searchlore

0:26

And I've been trying to wake up an hour and a half before sunrise.

0:27

So, in Miami, that's about 7:00 a. m. So, 5:30.

0:33

I start with very easy-going neck strolls, right, left, new sensations in the fingers.

0:38

See what side am I waking up on?

0:41

Is it my left side or my right side?

0:43

My creative side or my logical side?

0:46

And then try to get out of bed which whatever side feels a little bit more. Beautiful. I then go downstairs.

0:52

I don't obviously don't turn on my phone, but I don't turn on the light. I light a candle.

0:58

And I just start with slight hip openers and a little bit of yoga just to get comfortable.

1:02

I cannot sit the way you're sitting yet. I'm working on it.

1:08

And I'll do that for 20-30 minutes.

1:08

And then I will get as comfortable as I can in the seat.

1:14

And just breathe in and out from my nose for 20 minutes. Nice.

1:16

And I've been noticing every day that I do it, it goes Every day is different adventure. Mhm.

1:24

When the thoughts come in, I let them go.

1:27

And the level of clarity that comes at the end of it is phenomenal.

1:31

For me, because my practice is Judaism, at the end of it, I put on my tefillin. Beautiful.

1:35

I do my prayers for about 15 minutes. >> Mhm. It's about 7:00 a. m. I wake up the kids.

1:41

I get 45 minutes with them. And I start my day. Fantastic.

1:45

>> What I realized before I was so busy doing Yeah.

1:47

that there was no Adam time. Yeah.

1:50

And that time from 5:30 to 7:00 is something I'm really starting to cherish.

1:54

Some people say that praying is speaking to God and meditation is listening.

1:58

I think I was busy doing a lot of speaking. >> Yeah.

2:02

And I think for my lately listening has been what I've been craving more. Nice.

2:08

Tell me the WeWork story from the beginning.

2:10

To tell that story, I'll say one thing about myself first cuz I don't think that uh everybody is clear about that. I was born in Israel. >> Mhm. I moved 13 times.

2:20

By moving from place to place, I always found myself in a new community.

2:24

Being the new kid in every community means you have no friends on the first day.

2:28

I would always be attracted to the other kids who had no friends.

2:32

And my goal in life is to be to make the uncool kids cool.

2:37

It would take about a few months, then we would all become friends, and we would move to the next destination.

2:42

And I did that literally 13 times in my childhood.

2:45

The place I lived the most was in a kibbutz.

2:49

For people who don't know what a kibbutz is >> What's a kibbutz?

2:51

>> A kibbutz is a version of used to be. There's very few.

2:53

There used to be hundreds of them in Israel.

2:56

It was a version of a community where everybody every person had a different job.

3:02

But everybody uh earned the same amount of money and had access to the same amount of resources.

3:08

Everybody had the same house.

3:08

I happened to have just gotten a chance to go to the house I lived in the kibbutz.

3:12

It was I didn't remember how small it was.

3:14

The entire house, bedroom, kitchen and children's room, my sister and I shared a room, was 450 sq ft.

3:20

And I don't fit in the door.

3:24

So, I was shorter there, but when I went to kibbutz, I was like, "Oh, wow. The door doesn't fit." >> older or younger?

3:29

Younger sister, 3 years younger.

3:31

And what was your relationship like?

3:32

Growing up separate from moving from place to place, which means we always had to be very close.

3:37

When I was in the When I was about 8, my parents got a divorce.

3:40

And after my parents got a divorce, we moved to the US.

3:44

My parents are both doctors.

3:46

And we moved to the US for 2 years cuz my mother had to follow. She's an oncologist.

3:50

She followed in Indiana, Indianapolis.

3:52

So, I was a Hoosier for 2 years.

3:54

I went to Pacers games and Indy 500.

3:58

And uh and that's where I learned how to speak English because uh I'm very dyslexic.

4:01

And for very dyslexic people, one of the toughest thing is a new language.

4:06

When we moved to Indiana, I asked my mom when I went to school the first I said, "What am I going to do?

4:11

How am I going to order food? There's a cafeteria.

4:13

I don't know any words in English."

4:14

She said, "Say peanut butter and jelly."

4:17

So, I learned peanut butter and jelly.

4:20

And for the next 2 months, every day I wait in line and everybody gets there and they order their hamburgers and their fries and their chicken nuggets.

4:27

And all I can say is peanut butter and jelly.

4:29

And one day after 2 months, I was like, "I can't eat one more peanut butter and jelly."

4:33

And I had the courage and I said the word hot dog.

4:36

And from there, I started learning.

4:36

And that was the 2 years.

4:39

So, at this stage, my parents are divorced.

4:40

It's my mom, my sister, and I.

4:43

We're living alone in the US.

4:46

And as we go back to Israel, my mother wanted us to have a special experience.

4:50

And that's how we got to the kibbutz.

4:52

And in the kibbutz, because everybody has a job, she was the doctor at night.

4:56

And in return for her being the doctor at night, we got a place to live.

4:57

So, she worked the whole day in the hospital and then at night she was the doctor.

5:03

The reason the kibbutz for me is so relevant was my life had a lot of ups and downs and a lot of different challenges.

5:09

The first time that I felt safe was in that community.

5:14

My mother, who many years afterwards diagnosed as bipolar, and growing up the patients were always the most important.

5:20

And I think it taught me a lot because she was too careful with her patients so beautifully.

5:24

When she would come home, there was less patients for us.

5:25

And there would be a lot of fighting and screaming and hitting and things flying and a lot of things would occur.

5:32

And I remember that no matter how bad the night was, there was always three neighbors checking on me.

5:37

There were always friends that I could go to. No one ever judged me.

5:41

Everything was always open.

5:43

I always felt like I was part of it.

5:45

And that feeling of safety is something that not only stayed with me wherever I went to in the world, I sort of find myself bringing people together.

5:55

And when I moved to the US, which was actually following my sister, so my sister left Israel when she was 16.

5:59

She was Miss Teenager Israel. She moved to the US.

6:03

She became a very successful model.

6:05

And when I finished the army, I moved to the US 4 days later and I lived with my sister.

6:11

And from the first day that we're sharing an apartment together, this was September 11th, a month later, and we lived very close to where it happened cuz that's where you got the money from the government and that was the most affordable thing we could do.

6:25

I remember going up and down that elevator and was so surprised that in America people don't introduce themselves.

6:30

So I would see the same neighbors every day. No one says hello.

6:34

Until after a month, my sister's name is Adi, she was like, "What do we do? Experiment.

6:39

Let's introduce ourselves to everybody and in a month we're going to throw a party on the roof." There was a shared roof.

6:45

And that party, well, we'll see who comes. And we did it.

6:47

And we threw the party and half the building came and the energy in that building changed.

6:52

It was very obvious for me that this thing that I cherished, this kibbutz energy, is something that we could bring to the United States in the form of a business. This is now 2007.

7:03

I've had uh three failed businesses by this point.

7:09

Two fashion businesses and a baby clothing business called Crawlers, baby pants with knee pads on them to protect the baby's knees.

7:17

>> At the time I thought.

7:17

Today, being the father of six kids, no one ever complained about the knees.

7:21

I actually think they have extra skin and they're built for it.

7:25

But uh the universe thought of that one.

7:28

But um I I by this stage I'm already after my third business and I meet Rebecca.

7:32

And when I meet Rebecca, the first day, first time we met, I remember I couldn't remember I don't remember what we ate, but I was waiting for her to put out her credit card so I can put out my credit card so we could split the bill.

7:46

And we do that twice and the third time she goes, "Adam, you know, in America, it is okay.

7:49

You could offer to pay for the meal.

7:51

I don't have to say yes, but you could offer."

7:53

And I said, "No, I'm a I'm an entrepreneur and my money's in the business."

7:56

She goes, "I don't know what kind of entrepreneur you are, but if your money's in the business that you can't invite someone for a meal, you might not be a great one."

8:05

And it's interesting cuz I think it was the first time someone talked to me that way.

8:10

And I found it not only intriguing, but I was like, "Wow."

8:13

And I said, "No, you don't understand how business works."

8:16

And she was like, "Maybe you don't understand how business works."

8:20

And that kind of discussion very quickly became a a very passionate relationship.

8:25

3 months from the moment we met, I proposed. >> Wow.

8:27

And after we were together, she one day, it was 2:00 a. m.

8:30

, 2:00 o'clock at night, uh I was talking to the Chinese manufacturers of the baby clothing. I was screaming at Mr. Mao, Mr. Mao, Mr. Mao.

8:39

And she woke up then and she said, "If you wake me up one more time screaming at your Chinese manufacturer for company that makes no sense and is probably never going to make any money, it's really going to be an issue."

8:50

And I was like, "What do you mean? This is my business."

8:51

And she goes, "What do you know about babies?

8:53

What do you know about fashion?

8:54

Why is this your business?"

8:57

And again, and this was what's so interesting about our relationship, I said, "Well, cuz I like being challenged."

9:02

I said, "Well, well, what do you think my business should be?"

9:05

And she said, "It should be something you're very passionate about.

9:07

It should be something that you think can actually make a positive difference and you should be so excited to jump out of bed that everybody wants to join you."

9:17

So, I said to her, "Well, do you have an idea of what that business might be?"

9:21

And she said, "No, but I can tell you one observation I have about you. You love real estate."

9:24

I don't know anything about real estate.

9:26

She said, "Well, when you and I walk down the street, some men, they look at many things that cross by their way. Their eyes wander. Your eyes look up.

9:35

You're always looking at buildings. And again, I listened.

9:40

And the next morning I walk and I noticed that I'm looking at buildings.

9:44

And from that moment, I just started getting preoccupied in this concept of community and buildings.

9:52

And very soon after, and I think that's how the universe speaks.

9:54

I think it's speaking to us right now. Yeah.

9:58

This landlord in Brooklyn, out of nowhere says to me, starts talking about my baby clothing business and tells me how horrible it is.

10:05

And I said his name was Mr. Guttman. I said, "Mr.

10:07

Guttman, why would you say my business is so bad?"

10:08

Said, "Adam, I have nine children.

10:11

My wife loves buying baby clothes.

10:13

She's not once bought from your store.

10:15

I don't think you're even going to pay me rent next month." I said, "Mr.

10:19

Guttman, how much real estate do you own?" He says, "Everything.

10:22

As far as the eye can see."

10:24

And I said, "Well, it looks empty to me.

10:26

You don't know a lot about real estate."

10:28

And we would go back and forth for 6 months.

10:33

Till one day he goes, takes me upstairs to one of his buildings.

10:34

Said, "Adam, what would you do if I gave you this floor?

10:38

I read this in your book."

10:42

I think sometimes people think ideas come after thinking deeply for many years and coming up with that perfect idea.

10:50

It came on the spot, instantaneously, which made me know that it's not mine. Yeah.

10:55

I think when you take your time, maybe you think you own it.

10:57

When it comes out of nowhere, you could give it it's bigger than you.

11:01

Came from something bigger than me. I said, "Well, Mr.

11:04

Guttman, I'm a small business owner and I pay you a lot of rent.

11:06

But I only have five people.

11:10

I would love a small space that fits the five people with some shared services.

11:12

A receptionist, a and everything in between.

11:18

Your floor makes you you charge $5,000 in rent.

11:20

We'll charge $1,000 a space.

11:20

I think we can fit 15 spaces. We'll get 15,000.

11:24

We'll pay the receptionist uh $2,500. You'll get 7,500.

11:29

I'll keep the difference."

11:33

He said interesting and I went home not thinking anything about it. Yeah.

11:35

I come the next day, he calls me so excited.

11:38

Said Adam, why do one floor if we have a whole build?

11:43

We'll put the receptionist downstairs. We'll save the cost.

11:45

We'll fill up the whole building.

11:46

I'll get this much, you'll get the difference. I said great idea.

11:52

The next day I went to Miguel McKelvey, who was then my co-founder at the time.

11:56

He's an architect, a do-it-all architect.

11:57

And in one night, the business the business cards, everything gets created. It was called GreenDesk.

12:04

It's an early mover on the environmental movement.

12:07

And uh it was a green-shared office space.

12:10

But back then co-working was not the concept that a lot of people knew.

12:14

And the launch was May of 2008.

12:17

>> And you weren't aware of co-working before the idea. Interesting question.

12:20

At the time I go to Baruch College. >> Yeah.

12:23

I actually had a person sitting next to me.

12:26

Uh a woman who was older and her son had some version of co-working, but it was very different than this and did not have a brand behind. Had no purpose.

12:33

It was just let's split space.

12:35

And we actually had an entrepreneurship competition and she joined me to the competition.

12:39

So I heard stories of her son and our concept.

12:41

It was called Concept Living.

12:43

And it was a building, not an office space. >> Yes. With shared services. It was Flow.

12:49

But a long long long long time ago. Yeah.

12:51

We never made it even to the second stage of the competition because the dean of the business school told me that you can disrupt real estate.

12:56

It's too big, so the idea doesn't make sense.

13:00

So I heard about the idea.

13:00

I was never I wasn't aware of it as something that brings two people together.

13:04

I never thought about it as the place where that same community, that same cubicle that as a child made me safe would make others.

13:11

And I think the timing, which is another thing in life, was perfect.

13:15

Because it was after the crash of '08.

13:17

Because people were getting fired.

13:19

Because people were changing their life and changing what they were doing.

13:22

It was a perfect time to start that business.

13:24

And I remember our partner told me, "Adam, the business is not going to succeed." And I said, "Why?"

13:27

He said, "Cuz real estate always goes down when the economy goes down."

13:30

I said, "Well, this is not real estate.

13:32

It's going to be counter-cyclical.

13:33

More people are going to want to be here.

13:36

More people are going to Cuz when people have the courage to start something new."

13:39

And we started in May 2008, and it just took off.

13:43

It It was positive cash flow within >> it start?

13:45

We put five ads in Craigslist. No money from the bank. Five ads.

13:49

The first floor was 92% full within five business days. What did the ads say?

13:56

Probably something to the tone of green communal shared workspace. Something like that. Something simple.

14:06

And it happened right away?

14:08

It filled up immediately. It was instant success.

14:10

It went from three businesses that didn't succeed to immediately hitting It was so successful that, again, the landlord, who's not used to investing any money, came the next week and said, "You see, my idea is so good." I said, "Yes, Mr.

14:21

Godwin, your idea is the best." Yeah.

14:23

And he said to me, "Let's do Let's open another floor."

14:25

And as fast as we would build in 30 days, we would finish a floor.

14:29

As fast as we finished it, it would fill up.

14:30

Then another floor, and another floor, and another floor.

14:35

And at the same time, I'm starting my spiritual journey because Rebecca, immediately the moment success is starting, is noticing that this thing that drove me, this community, suddenly something is competing with it, that's success.

14:48

Money was starting to seep in.

14:50

It was tiny little money. Yeah.

14:52

But but it was She felt that this is a great time to start a spiritual practice.

14:57

So, growing up, you didn't you were not spiritual growing up?

15:01

What What do you consider spiritual?

15:03

A meditation practice, going to uh temple or church.

15:06

Based on your definition, I was extremely not spiritual. I did none of that.

15:13

>> You didn't practice anything?

15:13

Didn't practice anything. Were you a believer?

15:17

So, you spoke about my sister.

15:17

I think if she was here, she would say that at night, when we were having those difficult nights after all the craziness that would occur at home, I would tell her stories about how we're going to be very successful one day in the future.

15:31

And how we're not going to have these issues.

15:33

And how it's all going to work out great.

15:37

So, I always had this very optimistic view no matter how tough it was.

15:42

I had a feeling that things will work out in a very positive way.

15:45

So, you were optimistic, but maybe you wouldn't use the word spiritual.

15:50

>> No, I 100% would not use the word spiritual. I was not spiritual. I was very optimistic.

15:54

I would say the only thing that was spiritual about me would have been my optimism.

16:04

As nutrition science advanced through the mid-20th century, researchers began to understand that modern eating patterns, limited variety, processed foods, and time constraints could leave small but meaningful gaps in daily micronutrient intake.

16:20

Today, large population studies confirm that approximately 90% of adults fall short on one or more essential vitamins or minerals.

16:28

AG1 was formulated in response to those findings.

16:33

Each daily serving provides clinically informed amounts of commonly under-consumed essentials with more than 75 vitamins, minerals, and whole food source nutrients, including vitamins A, C, E, B6, B12, magnesium, zinc, selenium, and iodine, delivered in forms the body can readily access.

16:57

Because utilization depends on absorption, AG1 also contains probiotics to support gut health and digestive function, helping the body make effective use of what it receives.

17:10

AG1 contains no gluten or dairy, uses no genetically modified ingredients or artificial sweeteners, and is suitable for a wide range of dietary approaches, including plant-based, paleo, keto, and low-carbohydrate diets.

17:27

Available in single-serving packets for when you're on the go.

17:32

Manufactured under strict quality controls, every batch of AG1 is tested to confirm its composition, nutrient levels, and the absence of contaminants, ensuring reliability from one serving to the next.

17:45

It's no wonder AG1 is trusted by the world's top athletes and experts.

17:53

What was once a futuristic concept, daily nutritional support in a glass, is now the result of applied science. Learn more at drinkag1. com/petra. Do it today.

18:16

Tell me more about the kibbutz.

18:16

Would you feel like the other people in the kibbutz was like an extended family, or no?

18:21

So, as we said, I entered 13 communities in childhood.

18:23

The toughest community to enter was the kibbutz.

18:26

The kids there growing up sleep in the same house, and only go sleep with their parents on the weekend.

18:32

This is the old-fashioned thing that doesn't exist anymore.

18:35

But, that's how they grew up.

18:37

And back in the day, the most successful leaders in Israel grew up in these kibbutzes.

18:41

It was a very successful social movement.

18:45

And but it worked for the first generation.

18:47

When the second generation, their kids, not so much.

18:49

And by the third generation, the whole thing collapsed.

18:52

Funny enough, lately there's a little bit of a movement back to it.

18:56

Today, in the world that we live, when people are so uh digitally connected, I actually think there's a much deeper craving for it.

19:02

So, when I was in the kibbutz, I think everybody felt this way.

19:06

And I think even though I was an outsider, cuz I wasn't the kid that grew up there, they took care of me really well.

19:12

And again, my mother was an unbelievable doctor.

19:14

So, she was taking care of everybody.

19:16

We had a challenge because she was a single mom and and she was dealing with her own challenges. They were personal. Yeah.

19:23

Which again, back then as a child, I could have complained a lot about it.

19:28

But today, it's what made me who I am.

19:30

I'm so grateful for every single moment we spent together.

19:34

So, I think everybody in the kibbutz felt that way.

19:36

I left the kibbutz at the 11th grade.

19:38

But it was the place and I lived there for 5 years.

19:42

It was the place that shaped me and the place that I lived the longest.

19:44

You know, when we lived in the kibbutz, I'll share a few things that were different.

19:48

I think we can learn so much today from the past.

19:53

In our kibbutz, one day a week, there was no school.

19:55

Everybody volunteered and worked at the job. Interesting thought.

20:01

In our kibbutz, every morning, we all went to the dining hall to have breakfast. It was so communal. I loved breakfast.

20:07

There was nothing there, by the way.

20:09

Bread, a little bit of chocolate, a little bit of Nutella, but it wasn't called Nutella, and a little bit of cream cheese, and maybe some eggs.

20:17

That was such a great way to start the day and all the kids would come. No parents.

20:20

All the kids are together.

20:20

This is now fifth grade, sixth grade.

20:22

All the kids are together and we're talking and we're excited and we're going to miss it and everybody goes to the bus and from the bus straight to school.

20:31

And then most of us were not wearing shoes. Just to say.

20:34

Not on the bus, not in breakfast, and not in the school.

20:38

Which then I kept going, which over time some people thought it was interesting I wasn't wearing shoes.

20:44

But uh I know you enjoy not wearing shoes, also.

20:45

How did you meet Rebecca?

20:45

I have a best friend and his name is Angel Finkelstein.

20:50

And he keeps always telling me that he had this friend, Rebecca, who was his best friend or one of his close friends from Cornell University, but she lives in Los Angeles.

21:00

And one day, he tells me, "I'm going to move to LA."

21:02

And all the time he wanted to be a movie agent.

21:03

"I'm going to go I'm going to become to be an agent.

21:06

Rebecca got me my first job.

21:06

I'm going to sleep on the couch.

21:10

And he moves to LA and I've never met Rebecca at this point and he starts his career.

21:14

And he's a very successful Hollywood agent today.

21:17

And he always tells me about Rebecca and from her side always tells her about the crazy Israeli. Never introduces us.

21:23

Then 2 years later, I'm now at this stage I'm 28.

21:26

Rebecca is moving back from LA to New York and he's introducing us on phone.

21:31

Said, "Hey, if you want to meet someone cool, you're two cool friends of mine I'm introducing you."

21:37

And I remember that first phone call because I was staying with Rebecca.

21:40

You know, anything you need in New York I can help you get. She was born there.

21:43

I was like, "Who is this idiot?"

21:43

I was like, "She she was going out to clubs when she was 14." Yeah.

21:46

I was like, "I don't know what this kid wants." And and that was that.

21:51

And a week later she just out of nowhere calls and says, "Hey, if you want to hang out, me and my friend are hanging out, you can come and say hello." And I do that.

22:03

And I go I at the time I have no money. I ride my bicycle.

22:06

I go to that first meeting.

22:08

I walk into the her apartment. She's with a friend.

22:11

We talk for a few minutes and then she tells the friend she can go.

22:16

And it was just an instant connection.

22:19

And you really knew of her for years, but you'd never met her.

22:21

Never knew how she looked. Never saw a picture.

22:24

>> Yeah, I never spoke to her before.

22:26

>> never spoke just that one time. Knew of her.

22:28

Again, the thing that got me that first time we met and I think there's a lot to learn from this.

22:34

It was like she put a mirror in front of my face and said the truth. Not caring.

22:39

I think one of her superpowers is how authentic she is. Yeah.

22:41

She just looked at me and within a few minutes she was like, "Wow, you talk big and you don't have anything."

22:49

I was like, "Well, what do you mean?"

22:52

And she goes, "The way you're talking it's like you're so successful and I can literally tell that you're broke, so it's a little ridiculous." Yeah.

22:57

I was like, "How would you know my bank account?"

23:00

And she goes, "You just came to meet me for the first time.

23:02

You couldn't even showered and taken a taxi. You drove your bicycle.

23:05

You probably couldn't afford a taxi. And it was true. Yeah. It was so true.

23:12

And it was just instantaneous. Amazing story. Amazing story.

23:15

And you hit it off right away.

23:19

We hit it off immediately.

23:19

It was right after I broke up from a girlfriend.

23:21

And after the second day, I came back and I said to her, "Look, you're amazing, but I just broke up from a girlfriend.

23:26

I had this plan to sort of Yeah.

23:28

be men around town for a second.

23:34

And so, I'm just letting you know that I'm not And this is again, this is her strength. She goes, "Really?" I said, "Really." She goes, "No problem.

23:38

Come back when you're ready, but I don't want to hang out until then." I was like, "Okay." Wow.

23:45

>> And I go for 2 or 3 days.

23:45

And I was like, that was like, "That was weird. Why wouldn't you Mr.

23:47

Why wouldn't you want to hang out with me?"

23:48

And 5 days later, I call her.

23:51

And I was like, "Hey, what are you doing on Sunday?"

23:53

She goes, "I'm going to my Father's Day something something."

23:58

Not intending for me to say anything cuz it's Father's Day, again a very American thing.

24:01

And I say, she And And we talk a little bit more. She's just being polite.

24:04

She said, "Do you want to come?"

24:06

Sure, I'm not going to say yes. I said, "Of course."

24:09

She tells me many years later that she never thought I would want to come to her Father's Day Yeah. activity.

24:12

And I just we hung out and we go to her Father's Day.

24:16

I meet her entire family.

24:19

And I sort of move in the next day and I never leave.

24:22

So, tell me about her invitation for you to find your spirituality. So, we're hanging out. I never leave. We're a month in to it.

24:33

And she comes home one day.

24:33

I'm working into my baby clothing company at the time doing a 2 million in sales and 3 million in expenses.

24:40

So, we're just rolling losing money, rolling it, making ends meet, making things come together.

24:46

She comes to me and she goes, "I don't think it's going to work out between us."

24:50

This is now our month in and I'm I am head over heels, as I think they say here.

24:56

I said, "What do you mean not going to work out between us?"

24:57

He goes, "I think the man that I'm going to be with is going to have a spiritual practice.

25:03

It's very important for me in my life.

25:05

And you really don't have one.

25:07

And I don't think you're interested in one."

25:12

"And therefore I don't think it's going to work out, but it's okay.

25:14

You're You're going to do great.

25:15

And And And And I think you're You're going to do great and very good looking.

25:18

A lot of girls are going to be interested. Don't worry about it.

25:21

You're going to do fine." I like, "Wait. Wait. Wait.

25:25

How would someone go around having a spiritual practice?"

25:29

She goes, "Well, some people do yoga, some people meditate, some people pray.

25:35

There are many different ways for many different people."

25:36

I said, "Well, what do you think a good one for me would be?"

25:40

She goes, "Well, you are Jewish.

25:43

There's this thing called Kabbalah.

25:44

Why don't you explore that?

25:44

It's It's the mysticism of Judaism. You like it."

25:49

Cuz she knows he's very anti-religious.

25:50

Anything religious, being Israeli, a lot of people don't know this, we don't You don't like religious.

25:54

If it's forced on you and it's religious, you walk the other way. You want to choose.

25:57

I didn't know that at all. People don't know that. Yeah.

26:00

That's a lot A lot of the split.

26:02

There's There's the stories from the outside that we hear and there's what actually happens. Yeah. The big divide.

26:06

There's a big divide in Israel between religious and non-religious. >> that.

26:10

It's a big topic, but on a very high level, growing up the way I grew up, we grow up we when we're 18 we serve in the army.

26:19

We go and get whatever jobs we get. We pay our taxes.

26:21

We do what we think is our civil responsibility.

26:23

Remember serving from age 18 to age 21 in my case till almost 23.

26:28

I almost did 5 years cuz I was a navy officer.

26:31

Serving at such a young age, I think is such an important thing cuz it's exactly the age where you really just want to take care of yourself and have fun and party and do whatever it is that 18-year-olds really want to do.

26:43

And by being forced to serve already gives you a different take about life.

26:49

There's an ex- >> You have responsibilities? Extremely.

26:52

Depends what your position in the army is.

26:54

I was specifically navy officer.

26:54

I did it age 21 within the US, they do it age 28.

26:58

What takes your age cuz they they have less money. Yeah.

27:00

And they need to get things.

27:02

You have tremendous responsibilities.

27:03

But even if you're a soldier working you have huge responsibilities and there's many many lessons I learned there.

27:10

The one of my biggest lessons was before you become a great leader, you must know how to follow orders.

27:16

If you don't know how to be a soldier if you don't know how to do the basic >> general if you haven't been a good soldier.

27:24

>> You can be an okay general or okay leader.

27:26

Because you need to understand what it's like to get information given to you.

27:31

But I also think because you need to learn that you're not in control.

27:37

And when you always think you're in control, you never let go.

27:41

And when you don't let go, when is the universe going to get a chance to come in?

27:46

I actually think, you know, I have a acupuncturist who tells this great story.

27:49

He goes to Mexico, there's this hot water river and there's a pool that fills up every day in the morning and then everybody bathe in it and then they empty it at night.

27:59

He wakes up early for his meditation and he sees the guy cleaning the pool with a mop moving around like Tai Chi.

28:04

He literally it looks like it's movements from a master martial arts.

28:09

And he brings an interpreter and he goes to that guy and says, "Excuse me.

28:11

It looks to me like you're doing martial arts but you're cleaning the pool. What are you doing?"

28:16

Said, "I'm doing what my father taught me."

28:20

And he said, "And and who taught you what did your father used to do?"

28:21

Said, "He used to clean this pool."

28:23

"And who taught your father?"

28:25

Said, "His father, my grandfather.

28:27

And he used to clean this pool.

28:29

This pool is healing for people.

28:31

We take every move that we make in this pool as an art.

28:37

And we've practiced it for our entire life.

28:38

You could take something as simple as cleaning a pool and view it as your spiritual practice and something that's in the service of others or view it as a horrible chore and be very busy complaining. Beautiful. Beautiful story.

28:52

That's what you learn in the army, if you want to or not.

28:57

And someone with my characteristic, it's a must.

29:01

Cuz if you look at me before and after, I was still not in a great place after.

29:05

But the me before and the me after are two different things.

29:07

>> How would you describe you before and you after?

29:10

You know, me before is I grew up in this kibbutz.

29:12

We did whatever we wanted.

29:12

We were part of this community. We didn't wear shoes.

29:17

We just enjoyed every second of life, and we were just looking for more ways to have fun.

29:21

It's not that we didn't have responsibilities, we did, but it was all about the community of children and coming together.

29:26

It was It was It was like a storybook of what kids can do to have fun.

29:32

And that's was one piece of it, and the other piece of it was the challenges at home and all the different things.

29:36

And sort of in between, school was not a big deal.

29:39

I would most classrooms, most days, teachers would literally walk into the classroom, "Adam, leave.

29:42

Okay, now we can start the class."

29:45

And I'd start wondering, the Yeah.

29:47

education there was not a perfect fit for me.

29:52

Me after, I knew that when I am part of a team, if I can get the team to follow or to partner with me, there's not many things I couldn't achieve.

30:02

With that energy, I arrive into the US.

30:05

This is after September 11th, so there was just a horrible terrorist attack.

30:09

New York, if you remember at the time, is changing.

30:10

There's the New York before and the New York after.

30:12

I actually think New York had a golden era afterwards for 10 years at least, and from what I've understood and my experience, people from all over the world are coming to New York.

30:22

And it's always at the back of my mind, this thought that I could basically do anything I put my mind to, as long as I can get a team to believe in it and join.

30:33

The problem at that point is I have all that knowledge, but I have no spirituality. I have no purpose.

30:36

So, when you take a person that's capable of doing that, but you don't give them a purpose, I think that's where trouble comes.

30:43

Now, Rebecca, who's literally just starting with me, is seeing the potential and articulates the potential, but says without a purpose, you're not the man for me. Yeah.

30:52

I really wanted to be the man for her.

30:56

So, she takes me to this first Kabbalah class, and without getting into the >> Had she already been doing Kabbalah or no?

31:00

She was doing Kabbalah once a week, but not as a practicing not not with any religiosity.

31:05

I would really separate between Sometimes people say, "Adam, are you religious or you spiritual?" And I say, "Spiritual."

31:10

And they say, "How do you define?"

31:12

I say, "So, I keep Shabbat." And When did that start?

31:17

>> 10 years ago, which is 4 years into it.

31:20

But, I'll go back to the that first Kabbalah class.

31:22

I go to that first Kabbalah class to prove to this woman I just met Yeah. that I can do anything. Oh, you're serious.

31:30

>> to say she's not going to say I'm not the man for her.

31:31

Maybe she's not the woman for me. Yeah.

31:32

You don't break up with me, I break up with you. Do you know who I am? My sister is a model. I was an idiot. Yeah. I was an actual idiot. Yeah.

31:41

And and I go to this class, and this woman is teaching, and the teach the lesson was a very basic one.

31:49

When a challenge happens in your life, instead of reacting, take a deep breath, stop, and the word they used to say is pause, wait and wonder. Pause, wait and wonder. Then, interact again. No knee-jerk reaction. >> reaction. Take a breath.

32:08

Let the universe come in, or new language, hone that antenna and let it receive for a second.

32:15

There's a certain speed that this travels in.

32:19

And then And that was the that was the class.

32:20

Class ends, I'm like, "Whatever."

32:23

But, I still want to prove that.

32:23

So, I go and talk to the I'm going to ask this teacher someone something and show her. Yeah.

32:28

And I ask the teacher something, and this one was a very wise teacher.

32:32

She takes her book, she gives it to me, she says, "Adam, I write notes on the side of my books.

32:35

Take a look, your answer is there.

32:39

Bring it to me next week.

32:41

I think Oh, I'm going to show Rebecca I took her teacher's book. Meanwhile, I go outside.

32:44

I look at the book, the class ends, I'm like, "Oh my god, this teacher tricked me.

32:48

Now I got to come back next week and give back this book.

32:49

I'm not going to not return the book."

32:54

And the next day I go back into my baby clothing business that was genuinely not succeeding.

32:58

And I had this saleswoman who was very powerful, but we argued every day.

33:02

And she gets at it again.

33:06

And this is something that I think people don't know about me.

33:07

Even when I look like I'm not listening, I always hear.

33:12

And when I think what I learned could be beneficial, I'll try it at least once.

33:17

No matter what, I'll try it once. So I pause. I take a deep breath.

33:23

And a different reaction comes to my head. And I try it.

33:24

And this saleswoman who's so quick to anger, suddenly she's pausing.

33:30

We have this beautiful dialogue.

33:33

And we come up with a new idea of how to do something. >> Wow. We executed first time.

33:38

You know the book The Alchemist? Yes.

33:38

He talks about beginner's luck.

33:43

I think when we start practicing spirituality, first time, Yeah. it's beautiful.

33:48

I encourage everybody to give it a shot and see if it works. Yeah.

33:51

And if it works, then we can go then we can go to the next level. And it works.

33:56

And I love things that work.

33:59

And I come there the next day, next week, and now I'm hungry.

34:03

Now I'm spiritually hungry. Now I want more.

34:04

Cuz it already changed your life. It's already worked.

34:06

I wouldn't say it at the I don't recognize at this point that it already changed.

34:11

Some of the biggest moments of our life that change our life, most of us don't know that that's what's happening.

34:18

And this is why, no matter what moment you're going through right now, even if you think you're going right this second through your worst moment, >> Yes.

34:26

you might not know that the darkest moment of the night is a second before dawn. Yes.

34:31

>> And if you just pause and have a little more patience and keep pursuing Yes. Don't quit. Yes.

34:36

The light will be revealed.

34:40

>> What's the next scene in the movie?

34:42

Let's see what the next scene in the movie is. The movie is great. I just don't know how. Yeah.

34:49

It's a divine movie by the way.

34:51

It was written by the best director, writer, and producer.

34:54

And you know who the star is? We are.

34:58

Are we going to be a tragedy?

35:00

Are we going to be a success?

35:00

Are we going to be an up and down?

35:02

Are we going to learn from our lessons?

35:04

Are we actually going to curl below our blanket and oh no, this happened and I'm not going to go back out?

35:12

That's how Rebekah introduced me to it.

35:14

And I just drank it like it was from the firehouse. I was just intrigued.

35:16

And the moment that started, things started the the We call it being in flow state.

35:21

Once I hit that flow state things started moving fast.

35:26

That led to Green Desk led to WeWork, led to our first child, led to everything led to everything, brought us all the way here today.

35:35

And it only started with one class. Yeah. And one teacher. Yes. And one sentence.

35:43

And then you started going every week?

35:45

Then I started going to Well, I again, this is me.

35:47

When I see something that works, I actually do more than once a week.

35:50

It started with once a week, it became two times a week, then it became three times a week.

35:54

And then at the same time that this is happening, my life is changing so fast.

35:58

We're having This is I'm at this stage. I meet Rebekah at 28. I'm now 31, 32.

36:07

I'm having my first daughter. That's a miracle.

36:09

We're starting to have that experience.

36:11

And then uh and then we're launching WeWork.

36:15

And WeWork starts to Tell me do you >> shooting up and now we got the starting of WeWork.

36:20

Now you got back starting of WeWork, so We said that we had that business Green Desk and this landlord kept growing and growing.

36:27

And after a few months I saw that this business could be a national business. And I go to him, Mr. Gatman, Mr.

36:32

Gatman, if you invest in us, the number is $20 million, we will give you 50% and we will build this thing national. And Mr.

36:42

Gatman said, I'm sorry, it's not for me. I like Brooklyn.

36:44

But if that's what you guys want and there's there's actually deeper story there, but maybe for another time.

36:53

If that's what you guys want, then I encourage you to I encourage you to go for it. I will buy you guys out.

37:00

And you guys run with it.

37:03

And we agree on a number.

37:05

But he won't pay the entire number up front.

37:06

He's only willing that if the number is $3 million, we own 50% with another partner, so a million and a half, Miguel and I a million.

37:11

He's only willing to give us $300,000 of our million.

37:15

The rest is installments for the next 4 years to ensure that we don't enter Brooklyn with our new business, so we don't compete. He just wants Brooklyn. Yeah.

37:22

By the way, back then no Brooklyn, no big deal.

37:24

Well, Brooklyn became quite a big deal. Yeah, yeah.

37:26

But he he wanted Brooklyn.

37:27

Did he grow the company in Brooklyn as well?

37:30

First of all, it still exists and is successful. So, yes, he grew it.

37:35

But not with the concept of community and the soul behind it. Yeah.

37:39

Hey, but it still exists today and it's still successful today and then co-working is a successful business today and this was the beginning. This was the seed. >> Mhm.

37:47

And what's interesting is when we come to start WeWork, so then Miguel and I want to start WeWork and people have heard the story before, so I won't get into it, but we did take 6 months to come up with the name.

37:57

So, we knew we had an amazing business.

37:59

I knew this business was a home run. I felt it. I knew it was right.

38:03

>> already experienced it.

38:03

You experienced a lesser version of it.

38:05

This one had a higher um intention than the first business. 100% true.

38:12

This one had time to put thought and this one had Miguel and I sitting with a whiteboard for 6 months planning it.

38:20

We used to draw a picture of of of what we would do 9 years into it.

38:25

It was very similar to that initial picture that we drew.

38:28

I will send it to you so you see it.

38:28

It is a beautiful picture.

38:31

>> But the name's not there. Yeah.

38:31

And I'm not willing to start the business because by this stage in my spiritual practice, I know the power of words.

38:39

And I need a name that describes this vision.

38:40

And I can't come up with it.

38:43

And one thing we didn't say about my friend Andrew Finkelstein who introduces me to Rebecca, when we fall in love and I call and tell him we're going to marry each other, he stops talking to us for 3 months.

38:54

He has a He had a relationship, nothing to do between him and Rebecca.

38:56

He was so upset because he knew the Adam he knew was was the Adam that used to party a lot and go over and be I used to hang out a lot. Yeah.

39:05

And Rebecca was his close friend that he was so worried about.

39:08

And he thought she was some innocent lamb and I was the wolf.

39:13

And he didn't want the wolf to get close to his close friend.

39:14

So he called Rebecca and said all the whatever worst things he could say about me. Wow.

39:17

And there's a lesson there also cuz if you call someone and tell them why you shouldn't be with someone, then they get really interested.

39:26

And and but we we loved that it was true. I told him it was true.

39:28

He just didn't believe it was true.

39:30

And I'm I'm a very loyal person.

39:31

When I commit, I am not at 99% committed. I am 100 to a fault. Yeah.

39:37

And so Andrew ends up not talking to us for 3 months, but then again becoming very close.

39:44

And we never forgot that he introduced us.

39:46

But when >> And instead of you somehow hurting her, she made you better. That's what happened.

39:52

>> And I think for her, the point she meets me, she was celibate for 6 6 years.

39:57

She at the age 23, she was 29.

40:00

She said that she's not going to go on this dating scene and this thing that everybody else doing.

40:05

She told the universe she used to So she's a yogi. She was meditating. She was Shiva Mukti. She was certified.

40:11

And she would meditate and she would tell the universe, "Sell me Send me my soulmate or no one at all." Yes. She was zero interested.

40:17

So, at this point, she's 6 years in.

40:21

So, when she So, then she meets me.

40:23

And um she knew it, I knew it. And and that's that.

40:28

And then when it's time to launch the business, and I don't know the name, I call my old friend Andrew Finkelstein, who at this point is in Hollywood.

40:34

His career is starting to take off.

40:37

And he was always He has and has always been an unbelievable agent, but he's also an amazing co-writer and speaker.

40:44

And you know, like Morty Supreme that just came out, he put together.

40:48

He represents the director.

40:50

He represent He did a lot. He did a lot. Write and directed.

40:51

He's the agent, but he helped it become a reality.

40:55

I was there for the whole process.

40:58

And uh I call him and say, "I need your help to come up with a name." And I go to his house.

41:05

And we hang out the way we used to hang out.

41:08

And we are really This is now 2:00 a. m.

41:11

And we're about to We're about to faint.

41:14

And he looks at me, and he literally goes, "I wish we had a video of this." He looks like this.

41:19

His eyes are like almost rolled back.

41:19

He goes, "Steve Jobs had it wrong.

41:21

It's not Ibook, iPhone, me, me, me. It's we.

41:30

WeWork, WeGive, WeFly, WeTeach, We." And faints.

41:36

It's interesting also that you say it's at 2:00 in the morning, you're both exhausted.

41:39

You weren't in a strong place. The opposite.

41:41

It was almost as if you were ready to give up. You were at the end. You let go.

41:50

This is so accurate, Rick. We were so at the end. I We were done. Yeah.

41:57

And it wasn't going to happen. >> Yeah. And he says it.

42:01

And he says, I look up at the universe.

42:03

By this point, I'm already practicing more.

42:07

I said, "Please, let me remember it in the morning." I wake up.

42:11

and I call Miguel, trademark, we work, let's go. Boom. Amazing.

42:15

And it reminds me, you just said something I think very important.

42:19

It reminds me of a story, Joseph in the Bible. He's born. He has all these dreams.

42:24

He dreams his father and his mother and his brothers will bow to him and his brothers hate him for it.

42:30

And they put him in the cave, they want to kill him, then they decide to sell him.

42:34

And no matter what happens, he looks up to the heavens and he says it's God's will.

42:40

The brother sold me, maybe it's my fault I didn't speak.

42:42

They sell him if you don't remember the story, they sell him, he moves >> Into slavery.

42:46

Into slavery, he becomes slave to one of Pharaoh's right hand people.

42:50

He then rises, always whatever what, he always is blessed. He says God's will.

42:54

And he rises, there is a slave, he starts running the house.

42:55

Then the woman of the house, her name was Eshet Potiphar, she really she wants to sleep with him cuz he was he was he he's defined as beautiful from the in and from the out.

43:05

He's very handsome, very smart.

43:07

And she chases him, he doesn't want it, he runs away, the clothes gets ripped, then she feels ashamed.

43:12

She says he tries to rape her.

43:14

He gets thrown into prison and no matter what, God's will, God's will throughout his Then in prison he climbs to the top, he's helping run the prisoners. God's will.

43:23

Until after 10 years those two people come, the two ministers that have dreams and interprets their dreams.

43:28

One he says Pharaoh will save you and the other one he says you will die in 3 days.

43:33

And the why the one he says Pharaoh will save you, he says to him on the way out, please don't forget me.

43:39

He suddenly gives up the belief that he had until then that that it's God's will, God's will, God's He forgets for a second.

43:45

It says that he gets punished to stay 2 more years.

43:48

Now he's 12 years in prison and he gets to this night where he is done. He's ready to give up.

43:53

He says, "God, maybe I don't deserve it.

43:58

Maybe I need to be in prison. I will never leave."

44:00

He gives up and lets go and goes to his lowest point.

44:02

And in his lowest point, and this I think is very important for us.

44:06

When we are there, and we all have a moment where in that lowest point, we get to choose.

44:13

Do you choose belief, or don't you?

44:15

And if you choose belief, and are able to pick yourself up from that lowest point, boom, that's when it happens.

44:20

In the next second, Pharaoh has his dreams, can't interpret them, the guy remembers he met this guy Joseph, this Hebrew slave.

44:28

He says, "I I met a slave in in prison that that interpreted my dream."

44:33

Brings him to Pharaoh, interprets Pharaoh's dream, and goes from a slave to basically the CEO of Egypt, the number two to the king, in one day.

44:39

All the way from here to that.

44:42

And to finish that story, when his brothers there's a famine, the seven bad years, they come, and he saves his family.

44:48

And when his brothers see him, and they cry, and they're so hurt, they say, "So sorry for what we did to you."

44:53

He said to them, "It was never you.

44:55

I was here so we all could be saved. It's God's will."

45:00

So, I think what you're saying is not only true that in that moment that we let go.

45:04

I also think it's the moment when we're at our lowest moment, and we let go, where we can choose to believe. Yeah.

45:12

I think there's also something in that lowest moment where you're not doing the work. There's space.

45:20

You said earlier, in your life you were talking a lot, and you weren't listening.

45:25

When you're working, a lot of times you're talking talking talking talking, and there's not the space.

45:31

But when you run out of steam talking, eventually, you're done.

45:37

And then there's space, and it's quiet, and then it can come through.

45:44

And sometimes when we talk I'll talk about myself.

45:49

When I used to do it, I know I still do it, but I try to do it less.

45:53

When I used to do it, I thought I was in control.

45:55

When we think we're in control, that's when we really start losing the game. Yeah.

46:01

We're in control of our reaction Yes. to what happens.

46:02

Not of actually what happens.

46:06

>> No, and we never know what's going to happen next, really. We really don't.

46:11

The only thing we know is that it's part of that movie that you described before with the greatest director, writer, producer on the planet.

46:19

>> Yes, and I'm always anxious to see what's the next scene, what's the next chapter.

46:25

You know, the nice thing about what you said is if you're patient, you said anxious, but I bet you're also patient.

46:32

Because if you're patient enough, the next chapter is could be phenomenal.

46:37

Yeah, I think there's no way to get to greatness without patience.

46:43

I think there is no way to get to lasting greatness without patience. You could taste it.

46:47

We all know so many stories.

46:49

I've been part of one of those stories.

46:51

You could taste it, but it's not going to last.

46:53

I think if you want lasting blessings or lasting greatness, you need patience.

47:00

You need to be aware that you're not in control.

47:02

You need to accept the fact that sometimes even though you don't know, and it's really, really scary, life is not about if you fell down.

47:12

Life is only about how you get up.

47:17

In a world of artificial highs and harsh stimulants, there is something different. Something clean. Something precise.

47:26

Athletic nicotine, not the primitive products found behind convenience store counters.

47:30

Not the aggressive buzz that leaves you jittery, but a careful calibration of clean energy and focused clarity.

47:40

Athletic nicotine, the lowest dose tobacco-free nicotine available, made entirely in the USA.

47:44

No artificial sweeteners, just pure purposeful elevation.

47:50

Athletic nicotine is a performance nootropic.

47:55

Athletic nicotine is a tool for shifting mindsets.

47:59

Athletic nicotine is a partner in pursuit of excellence. Slow release. Low dose. Gradual lift. Sustained energy. Soft landing. Inspired results. Athletic nicotine. More focus. Less static. Athletic nicotine. More clarity. Less noise. Athletic nicotine. More accuracy. Less anxiety. Athletic nicotine.

48:28

From top athletes pushing their limits to artists pursuing their vision, athletic nicotine offers the lift you've been looking for.

48:37

Learn more at athleticnicotine.

48:37

com/tetra and experience next-level performance with athleticnicotine.

48:45

Warning, this product contains nicotine.

48:47

Nicotine is an addictive chemical.

48:47

So, you have the name and what happens next? It's miraculous. It's on fire.

48:53

What's the First thing you do?

48:55

I go and find a building on Lafayette and Grand that wasn't that cool yet.

49:02

Former landlord that didn't like to give any money.

49:06

And was very was like one of those very tight landlords.

49:10

And I convinced him to pay us enough to build it. It had five floors.

49:15

The idea was we'll rent the top floor and then we'll do so well then we'll rent the floor below, the floor below, the floor below.

49:19

And the reason you're starting floor five, when you do construction afterwards you're always doing below people and not above their head.

49:25

Making nice little nice noise was the thought.

49:28

And I convinced him to do the deal, but he has one thing, we must put $300,000 in a letter of credit, otherwise we can't do it.

49:35

The exact same $300,000 that we got from the sale that the partner was willing to give us before the installments.

49:44

Dollar for dollar, same amount.

49:44

That same amount moves and I think that's how energy moves when you're in flow.

49:47

That energy moves from that idea that was like you said the early Yeah.

49:52

to a slightly more intentional oriented idea idea. Now it's there.

49:59

And we were under construction. We do the first floor.

50:01

We get a very small budget from him.

50:02

She's amazing cuz never for the next 9 years in the history of WeWork can we build for that price that we built the first time. Why? Cuz we were constrained.

50:13

Cuz constraints is the mother of all innovations. >> Yeah.

50:16

It It's what takes us to the next level.

50:20

And when we design it, we build it.

50:26

I still remember the night before Miguel was about to have his first son.

50:27

He He He gets overwhelmed the night before and with a few employees we all go and finish it.

50:35

And the place just it fills up before within a month. 99% full.

50:40

Next month, next floor, next floor, next floor, next floor.

50:43

And that's the case for and and the first building is done.

50:48

And we go to the building two. We have no money.

50:52

We raise our first round and that's where it starts. Where is building two?

50:56

Building two is on 35th and fifth right in front of the Empire State Building.

51:02

Literally right in front, which at the time was not considered a good location. Mhm.

51:06

But for me being an outsider in New York, what are you talking about?

51:08

I can see the Empire State Building from the roof. It's beautiful. Yeah.

51:11

Sometimes I've learned this a lot in life.

51:14

The ones who know everything because they've been living in that market forever Yes.

51:20

actually might be limited and for me coming from the outside a fresh set of eyes on any situation or I like to think of it more as a childlike Yes. >> look.

51:31

Rebekah thinks she has seven children, not six, me being the toughest one, number seven.

51:36

I look at life as a child for good or for bad, which allows me to see situations from the beginning.

51:40

So that's building number two.

51:43

And and we raise our money from a from the first person and we just start running.

51:48

My third building is in Meatpacking.

51:52

The same time also as said New York is happening Meatpacking is starting to happen.

51:55

There was a club called Lotus.

51:58

We used to go there every Tuesday every Tuesday night.

51:59

Daniel was at the door and we we just loved the Meatpacking.

52:03

It was so I don't know if you remember Meatpacking back then. So cool.

52:07

The original restaurant before rent became expensive.

52:10

It was such a great place to be and I just wanted a building in the Meatpacking.

52:14

I find the landlord that no one can do.

52:16

I I was very good at doing the deals with the ones that no one can do the deals with.

52:19

Find the landlord that is impossible. We become friends. I understand him. He understands me.

52:25

>> Also seems like as you have success it's easier because you have examples.

52:30

>> We're not there yet because this is same year, right? This is early success.

52:32

So it is success but remember real estate people are very good at saying no. They know everything.

52:38

Their business is cyclical so they've been there done that.

52:44

But at the same time if you remember you're now 2010 office is only starting to be at the rise.

52:47

So there's a lot of empty space which gives us an opportunity.

52:52

So we do Meatpacking which is amazing and I want to do San Francisco.

52:53

And the reason I want to do San Francisco, I want it to be a national brand and my head was like, "Okay, we'll be national by being on two coasts."

53:01

So we go from So that So three is the answer and number four is San Francisco.

53:08

>> And how was the reaction? >> Tenderloin.

53:09

How was the reaction in San Francisco?

53:11

The concept of people wanting to be part of something greater than themselves and wanting to be part of the community.

53:20

And when you start business and you have one or two employees or by yourself to go to the coffee machine and talk to someone, to meet an accountant uh today, we'll talk about it later with AI, the world is different.

53:30

But to need all this help and meet five different people around the coffee machine that can just you can just talk to, to share the struggles and the successes with people in a like-minded place was relevant all over the planet. Yeah.

53:45

It made as much It made tremendous amount of sense back then.

53:47

The only time I would say it makes more sense is today. Yeah.

53:52

Because the more people are getting connected digitally the less they are connected physically and the more they crave it.

53:58

But back then it was unbelievable in San Francisco as an answer.

54:01

And then did you do more in San Francisco or did you spread out?

54:05

>> Adam, back then was very busy doing push everything out.

54:10

By the time I did San Francisco, I might have done two I might have done one or two more buildings.

54:12

But I was ready to go global. Yeah. I wanted London. Yeah.

54:17

And people were like, Adam, no, you can't go to London. Said, why?

54:18

It's the same language, similar accounting system, similar law. What's the big deal? Same website. What's the big deal? Like, Adam, it's London.

54:25

It's a different time zone.

54:28

So from after doing a few buildings, I go to London.

54:30

And what's interesting about London, London is the inventor of the original co-working, right? Regus.

54:37

The original company that did this from the '80s, I believe, is there.

54:40

So everybody was like, no, it's not going to work as well in London because it exists there.

54:43

In my opinion, and I feel it's stronger even today, when you go to a place where people know of a new concept, but you bring something innovative, you do even better than when you have to convince everybody about a new concept.

54:56

So we then go to London and it goes really well.

54:57

It basically for the following 5 years goes unbelievably well wherever you go.

55:02

And just to to give it weight, from year one doing one building in the first year, and year two adding I believe three, you go to a near nine doing two buildings a day.

55:16

In a 100 buildings >> a day. A day. Nine years.

55:20

Two buildings a day in 130 cities, 50 countries, five continents, 72 languages.

55:28

And when I count today, I only count business days.

55:30

So that's 5 days a week, not including holidays.

55:34

So you do about three to So you do over 400, maybe you do a crazy amount in that last year.

55:39

It's just unbelievable story.

55:41

It was an amazing journey and you know something about the journey that sometimes doesn't get spoken enough.

55:44

To do what I just said, you need an unbelievable team that believes.

55:50

Cuz this is not technology that's breathing.

55:53

Not only can you not breathe everywhere, this is physical labor. Yes.

55:56

This is this is this is a architecture and all these languages. This is construction.

56:01

This is management and it's operations and hospitality and accounting and and and and and Yeah.

56:07

And the thing about WeWork that I was so the thing I would say is that team was phenomenal. Yeah. Because they believed.

56:15

And then if you ask them, I met I just met one of them few weeks ago.

56:19

He works in Archer, which is the vertical takeoff drones.

56:21

They're doing really well.

56:23

And he's a top five and he used to be one of our heads of construction.

56:26

And he sees me very nice and he says, "Adam, I just want you to know the reason I'm doing so well is because of everything you taught me at WeWork."

56:33

And I said, "I didn't teach you how to work in a vertical takeoff drone company.

56:36

Like, what does construction have to do with that?" He said, "No.

56:40

You taught me that if I put my mind into it and I get a team to work with me and I put purpose and mission first, I can do anything I want and that has worked phenomenally for me."

56:52

So, that's the first 5 years.

56:54

It then turns a little, but that's for another time.

56:57

Do you think the success had to do with the concept or with your personal will?

57:04

In hindsight, I think the success was accumulation of every single thing that I did leading to that. It's the childhood. It's the challenges.

57:16

It's the parents that were always giving as doctors. It's the kibbutz.

57:21

It's the learning how to serve at the age of 18.

57:25

It's living with Adi, my sister, in New York City and experiencing this unbelievable city that inspired me.

57:33

It's my friend Andrew Finkelstein who teaches me about America and about culture and about movies and about all these beautiful things that inspire me and get me excited.

57:43

And it's this belief in something that I that I play a part in something bigger than me, that I can make a difference.

57:56

Maybe sometimes it feels big and sometimes it feels small, but there's a mission for me on this planet, there's a message.

58:02

For me it's more community and that message needs to be told, it needs to be heard, and as long as I stick to it and don't forget it and put that first, nothing can stop me.

58:23

LMNT element electrolytes Have you ever felt dehydrated after an intense workout or a long day in the sun?

58:35

Do you want to maximize your endurance and feel your best?

58:39

Add element electrolytes to your daily routine.

58:43

Perform better and sleep deeper.

58:46

Improve your cognitive function.

58:49

Experience an increase in steady energy with fewer headaches and fewer muscle cramps.

58:55

element electrolytes Drink it in the sauna.

59:02

Refreshing flavors include grapefruit, citrus, watermelon, and chocolate salt.

59:08

Formulated with the perfect balance of sodium, potassium, and magnesium to keep you hydrated and energized throughout the day.

59:17

These minerals help conduct the electricity that powers your nervous system so you can perform at your very best.

59:24

element electrolytes are sugar-free, keto-friendly, and great-tasting.

59:30

Minerals are the stuff of life. So, visit drinklmnt.

59:35

com/tetra and stay salty with Element Electrolytes.

59:42

LMNT How come you about SoftBank and Masa?

59:53

I was planning we were going to talk about feelings and we're actually talking about real life about I love it.

1:00:01

First, I'll start with the most important thing to say about Masa cuz for me it's Masa.

1:00:05

It's SoftBank is the company that he created and SoftBank is great, but it's Masa.

1:00:11

When Masa walks the first time into WeWork, he goes like this, "It smells like a factory of dreams. Wow.

1:00:20

You're not manufacturing business here. Wow.

1:00:24

>> You're making dreams." What a beautiful line.

1:00:26

What a beautiful statement.

1:00:26

And I am I get shivers all over my body and I was like, "Adam, he just met someone who thinks bigger than you." Yeah.

1:00:37

I didn't even know where it came from.

1:00:40

And then he just kept talking.

1:00:41

I didn't even know where it came from and he was supposed to come for an hour and a half and he only had 12 minutes.

1:00:49

This all this in the 12 minutes he says that and my HQ my headquarters my where I sit when I used to bring investors had this whole tour through our HQ I would do.

1:00:57

On the fifth floor I was never getting there.

1:00:59

So, I took him into our innovation center and introduced him to two residents cuz our buildings I always wanted to work in buildings where customers were there, members so I could always hear from them in the elevator. Yeah.

1:01:09

They love telling me what's wrong and I love hearing. Yeah.

1:01:10

So, I introduced him to two residents, two members and he says what he says. He looks at me. He goes, "This is great. I need to go uptown.

1:01:20

Would you like to join me in the car? We could talk some more. I said, of course.

1:01:25

And he walks into We go into the car.

1:01:28

Have this whole presentation.

1:01:28

Closes the door and like, forget your presentation. So, what do I do?

1:01:34

I said, your team told me there's no deal making.

1:01:36

We're only talking high level.

1:01:40

I think I need to add something to this if if this is where we're going.

1:01:44

The night before we have a board meeting.

1:01:46

This is 2016 towards the end.

1:01:49

And we decide as a board we could turn our business profitable whenever we want because we're growing.

1:01:53

That business is called about Green Desk.

1:01:55

Never stopped being profitable.

1:01:57

>> just slow down building and you'd be profitable. >> Or even better. You stop.

1:02:00

You let the machine catch up with you cuz you've done so much.

1:02:04

You actually take account inventory of where you're at, which is There is no way to grow as fast as we were one of the fastest, maybe fastest physically growing business on the planet. Yes.

1:02:16

>> No matter how good at what you do you are. Yes.

1:02:17

You will never be able to do that perfectly right. You stop.

1:02:20

You let the deals catch up with you.

1:02:22

And you reconsider everything you're doing. You look at everybody.

1:02:27

Are everybody in the right roles?

1:02:29

Do I have enough employees?

1:02:30

Do I have too many employees?

1:02:30

Is our technology working? What do we need to do?

1:02:33

You take a moment cuz up until this point you're sprinting.

1:02:37

I think sprinting would be an understatement.

1:02:41

I think if you came cuz I know you a little bit, I think you would have told me after our meeting that you need to take 10 minutes and meditate before you go downstairs. Yeah.

1:02:47

Because you would have felt that you cuz that energy I think you would have loved it.

1:02:50

But that energy was electric. We were flying.

1:02:54

He used to say outside of my door, we do the impossible every day, miracles once a week. And we did We meant it. Yeah. We meant it. And it happened. It happened. It happened. We meant it. It was happening.

1:03:07

How big is WeWork in 2016?

1:03:09

>> I would need to go back. It's been some time.

1:03:10

Approximately, I'm going to guess I I I remember it by buildings and revenue.

1:03:16

WeWork is at $450 million revenue going to 900 million.

1:03:23

So, we're is doubling not just in size every year, but in revenue.

1:03:28

Which then doubles your expenses and the growth and everything that comes.

1:03:29

It's a $16 company of its last valuation.

1:03:35

It's for sure in Europe, in the United States, and in Latin America. Wow. At this point. I will fly. And we're working.

1:03:43

We are working many, many, many hours.

1:03:45

Everyone, the employees, myself, everyone's working non-stop.

1:03:50

We have the board meeting the night before and we agree.

1:03:51

We say Adam is going to We're going to go out to raise money one more time.

1:03:55

One of my abilities is that I am able to raise money because I'm able to bring people with me towards the direction I want to go and I'm also for people who know me, I keep my word.

1:04:04

If I say we're going to double by this number, I do.

1:04:06

If I say we're going to hit this goal, I do.

1:04:08

So, people who get to know me People The best people for me to raise money for a second time, people who passed the first time, but heard what I said, and then I come to them the next time say, "Let me show you what I did since we met." Yeah.

1:04:19

And they're like, "Oh, wow.

1:04:19

You told us 10 things we thought you were going to do one, you did nine."

1:04:21

And then they would want to join the the the journey.

1:04:26

And so, this we had the board meeting and we decide that I am going to raise 300 million. Mhm.

1:04:29

We're going to take a pause. Yeah.

1:04:32

We're going to clean everything up. Yeah.

1:04:33

We're going to turn the company profitable, stop signing leases.

1:04:36

We're going to take the company public.

1:04:39

And not only are we going to take the company public to 2016 going to 2017, we're not going to worry about our last valuation of 16 billion.

1:04:45

We're going to take it for 10.

1:04:45

Again, but at this point, we weren't using valuations.

1:04:50

At least on my side and my executive team.

1:04:52

We believed that our solution is so correct and and it worked everywhere.

1:04:56

There was not a place on the planet you open this thing and it didn't work. We knew had proof.

1:04:59

We had proof, we had belief, we had everything we needed to know and the plan was solid.

1:05:04

You slow down first and and the next morning I meet Masa.

1:05:08

And we sit in his car at the store I told you, happens what happens.

1:05:13

He invites me into his car.

1:05:15

We sit in the car and says, "What's the deal?

1:05:16

How much are you looking for?"

1:05:17

So, again, it happened the night before and I'm already this By this stage, I am studying spirituality and I believe there's no It's not cause and effect.

1:05:24

I believe in cause and effect, but I believe Wow, we said it yesterday and it's happening today. Yeah.

1:05:29

So, I'm going to tell him the number we said. Yeah. Raising 300 million. Yeah.

1:05:32

>> At a 20 billion-dollar valuation, cuz the last one was 16.

1:05:36

He looks at me and goes, "But I know I must say I have the Vision Fund.

1:05:40

It's going to be a hundred-billion-dollar Vision Fund.

1:05:42

It could take a long time to spend a hundred billion dollar 300 million dollar checks.

1:05:48

Don't you have a bigger vision, a bigger picture?"

1:05:50

I said, "I do, but you know that that would be very a big amount for us to raise."

1:05:53

He said, "Well, tell me, if you could do anything, what would you How would you be How big can this company be?"

1:06:00

I said, "This company can be as big as as much money as you inject into it.

1:06:02

You put money on one side, you get growth on that.

1:06:05

I haven't missed my numbers once."

1:06:06

Remember, by this point, 2010 to 11, I grow 3x.

1:06:09

First time I grow 3x, 3x, 3x and then 2x, 2x, 2x, but I don't miss my growth. Yeah.

1:06:14

I said, "Look, we're 450.

1:06:16

I'll hit 900 million next year, then a billion eight, then 3. 6."

1:06:17

It's going to keep Depends how much money you want to put in the machine.

1:06:23

And he says, "Well, what do you think about Southeast Asia?"

1:06:24

I said, "I've never been there."

1:06:26

He said, "Well, do you think the concept will work there?"

1:06:29

I said, "I'm sure it will, but I would need to learn about it." Yeah.

1:06:30

He said, "Well, we should do a company there."

1:06:34

And then he said, "What do you think about China?"

1:06:35

Oh, sorry, when I said we're in all those places, I forgot to mention we're already in China also by that point. Really?

1:06:42

>> So, when Must I comes, we're in China, Latin America, Europe, and the US.

1:06:43

And China already is a free-standing company that we raised locally at a 2 billion-dollar valuation.

1:06:49

And the reason I raised the local company, if the locals don't believe in it, I don't want to enter a market that that's hard.

1:06:54

So, that was my litmus test, litmus test, and worked out very well.

1:06:57

And he says to me, "Well, what Southeast Asia?" I say, "Yes."

1:07:01

He said, "Well, we can write this size check there."

1:07:03

And then he says, "What about Japan?"

1:07:04

I said, "I really don't know anything about Japan."

1:07:05

don't know anything about Japan." He said, "Well, I don't I know Japan and tells me the whole story of Yahoo Japan and how at some point Yahoo Japan was bigger than all of Yahoo and said okay, we could do that together and then he said China you could go much bigger in

1:07:17

China and the 300 million request becomes a 3 billion big change >> big change and it's all written down and it's all in 28 minutes in 28 minutes the from the moment we started writing till the moment we arrived 28 minutes but we're not there we're only 20 minute 22

1:07:36

and he's writing all of it down on an iPad and he looks at it and he goes and and and I said but I can't take this much dilution into into into we were I don't need this much I need 300 I don't maybe I could take you know maybe a billion but it's like I said no but we

1:07:49

will find Southeast Asia as a separate company China already was separate Japan will be separate so this way so you don't just have WeWork as one valuation you have all these separate companies with their own valuations and again that

1:08:00

money in them because we have a team that can execute will become successful businesses they the the right he was not wrong the recipe was in place he was very right and then he says let's make it 4 billion I said I don't have I I don't have it in me this is me and this is this I said I

1:08:20

I don't have it in me I don't I don't I don't know where I would put it >> were you scared at all it sounds scary you know I'm in my mid-30s I think some I so my lesson in hindsight after a lot of time of reflection when you tell the universe you're

1:08:34

looking for 300 million and the next day a guy offers you 4 billion instead of signing the dotted line you take a breath and say why what does it come with what am I committing to is there something here I don't see but to be fair including myself most 30-something year

1:08:51

old sitting in that seat too you got to have those numbers I is it the Israeli from the kibbutz who came to New York City and lived with the sister who was paying his rent for the first 6 years and then Rebecca paying for the following 3 years. I go, "What am I going to do with

1:09:05

I go, "What am I going to do with another billion?"

1:09:06

He said, "You'll do secondary."

1:09:08

For you and for all your investors and for all your employees and and everybody will have an exit, so they feel this.

1:09:14

Okay, that's And I should have been scared. I wasn't.

1:09:22

I should have been scared.

1:09:24

I've never thought about this before.

1:09:24

I should have been terrified. Yeah.

1:09:28

Because I was way more I should have done that first lesson that I learned in Kabbalah, pause. But I wonder. But I didn't. Yeah.

1:09:36

I took that pen and I signed that document. >> Right there. On the spot. On the spot.

1:09:42

He offered it on the spot. >> Amazing.

1:09:45

>> on in the art of the deal, which I know you're master of.

1:09:49

Still sometimes have momentum. They have moments.

1:09:51

They're second in time, just like channeling. Yeah.

1:09:53

But the deal can go from both sides and just I want to make this clear.

1:09:56

Not only do I not blame myself for anything. >> No. I am so grateful. >> Yeah. So appreciative. >> He saw the vision.

1:10:05

>> He trusted more He trusted completely. Yeah.

1:10:10

I walk out >> How could you be mad at that guy?

1:10:11

I walk up because other people many times after Oh, he pushed you to grow so fast.

1:10:14

We're we're going to say what happened.

1:10:16

We're going to get there, but I couldn't be. I couldn't be. I wouldn't be.

1:10:19

There's nothing If he called me today Yeah.

1:10:22

and said, "Adam, I need this or that."

1:10:23

I am on that plane and with him as fast as as as engines can take me. Of course. Straight away.

1:10:33

I walk out of that car and that is the Again, in hindsight, I couldn't know at that moment.

1:10:41

That's when a mission-driven company that was based on belief that came from kibbutz, that came from all the right things with all the right energies switched to become about growth, money, and valuation.

1:10:57

And because you've had now a commitment to live up to.

1:11:02

Before that, you were building you wanted to build as fast as you could.

1:11:06

But you were building at the fastest pace you could with what you had.

1:11:08

And now you're put in the situation of multiplying it by a hundred times.

1:11:14

Yes, but I want to take more accountability than that.

1:11:19

Before all that happened, I had a choice.

1:11:24

I could walk out of that car, take a deep breath, really pause, maybe go talk to Rebecca, go talk to some of my spiritual teachers, go to people I know who have more experience than me. Mhm. I signed already.

1:11:38

Let's say this I I thought about this many times.

1:11:39

I could have not not signed.

1:11:41

That wasn't in the cards.

1:11:42

Not that Adam then No, maybe Buddha could.

1:11:45

I could have not not signed.

1:11:51

I could have taken a deep breath and said to myself, this is more money than I've ever touched.

1:11:55

This is a tremendous responsibility.

1:11:59

Yes, he wants me to grow very fast, but that's not what he really wants.

1:12:01

What he really wants is the result in five years from now.

1:12:04

What would be the best way?

1:12:06

And I could have thought for a second about my spiritual studies by this point about five years that when things come really easy, we tend to not appreciate them.

1:12:12

And we don't appreciate them, we tend to short circuit. And but I didn't.

1:12:19

Instead of that, and I remember it, I walked it was like 58th Street, I think, where is and our HQ was on 18.

1:12:27

I walked down New York City.

1:12:29

Every step I took, the ego went up. It was under control.

1:12:34

It was there, but I had Rebecca and I had my kids and I this I have I have a beautiful relationship where I get given feedback all the time with the executives, with the teacher that we worked with.

1:12:42

There are a lot of controls around us to keep it.

1:12:46

But it went above my threshold, above my spiritual level at the time. Yeah.

1:12:48

And it came up and I walked into that HQ a different version of myself.

1:12:55

A lesser The The purpose and the mission suddenly became not the goal.

1:13:04

The revenue, those promises that were made on growth and revenue became the goal. Yeah.

1:13:07

But that wasn't the DNA of what we built.

1:13:09

I'm not saying that there aren't companies that could be built that way. >> Yes.

1:13:13

I, Adam, don't operate that way.

1:13:13

I cannot build a company that way. Yeah.

1:13:18

And then we really started growing fast.

1:13:20

Fasty fast was fast before then then we started flying.

1:13:22

I feel like you're being very hard on yourself considering you've been in business for 5 years, 6 years.

1:13:30

You've been sprinting or flying the whole time only having success.

1:13:35

And here's someone who believes in you even more than you believe in yourself saying you can do this. Saying you can do this.

1:13:42

I don't know anyone in that position who could not not move forward with that.

1:13:49

I appreciate you saying that.

1:13:53

I don't view my words that I just said as hard.

1:13:56

I cherish that moment because in hindsight that is what made me who I am today. Yeah. Yeah.

1:14:07

In general I think for me I think it's relevant for other people.

1:14:14

If we can start taking those moments that at the moment we can view as a mistake and actually say it's not a mistake.

1:14:21

It's exactly what needed to happen as long as I can learn from it. Yeah.

1:14:28

If I can learn from it Yeah.

1:14:28

it's meant to be and it's part of my journey. That's cool.

1:14:32

If I'm going to go and make that mistake that decision again, that makes it a mistake. Yeah.

1:14:36

But yes, that's where we were.

1:14:38

Is there a world in what Mass believed could have happened? 100%. Yeah. So it was possible.

1:14:49

>> We were very close if I played 2019 differently, there's a very high likelihood that it would.

1:14:57

But, it's very important to say Yeah.

1:15:01

You know this concept of on the one hand we have free choice, on the other hand it's meant to be? Yes.

1:15:04

When I say that to people, I say, "How would you explain that?"

1:15:08

The way I would put it is >> say it?

1:15:10

We get to a fork in life. Yeah. We all do many times. You have free will.

1:15:15

You choose one choice, and it actually ends up working out or that you perceive as working out, you're like, "Oh, meant to be." Work great.

1:15:22

Choose another choice, and suddenly things don't work out.

1:15:24

If you take those things that didn't work out, and you learn and grow from them, you're right back to meant to be. Yeah. So, it's our future.

1:15:33

It's again that thing of us not controlling us, controlling our reaction. Yes. It's that.

1:15:36

So, to answer your question, if So, I'm going to caveat what I'm about to say.

1:15:42

Without everything happening exactly the way you did, I wouldn't be where I am today. >> Yes.

1:15:48

And I love where I am today. >> no regret.

1:15:52

>> Not only no regret, I think I am as a person >> Yes. >> happier. Yes.

1:15:56

I think I have the capacity to build things that are tremendously larger, as you said.

1:15:59

If Green, if if Kibbutz was here, Yeah.

1:16:03

>> then Green Desk was alert, then WeWork was this, I think Flow is the next level, and would have never been able to be born without those steps. So, I'm so happy.

1:16:11

But, here's a difference in an easy scenario for you.

1:16:14

If instead of my investors, I would have Marc Andreessen and Ben Horowitz as my partners, my partners today, and I'm saying this from knowledge, cuz I've gotten to know them. I sit with them.

1:16:23

We're very board meeting in 2 days.

1:16:23

I'm very excited about it.

1:16:25

I'm going to get to sit with both of them in the room.

1:16:29

Best part of my business, without a doubt, is the 9 hours of sitting with Marc and Ben, Yeah.

1:16:34

knowing that they're going to tell you what they actually think, not what you want to hear, Yes.

1:16:38

and learning from people who are not just in my opinion, the best investors in the world, they've built their own businesses.

1:16:44

If they were sitting around that table when the whole thing was happening, the one thing they wouldn't have done is said, "Adam, you should step down."

1:16:52

That they knew was not going to work because it's been tried many times, and literally, if you look at the history, almost has never worked. >> Yeah.

1:16:58

They would have said something like, "Adam, we need to have a serious talk."

1:17:02

Maybe taking me somewhere, locked the door, thrown the key, and said, "Okay, Adam, you've proven that you're the fastest-growing company in the world.

1:17:10

You've proven you The It's time to prove profitability.

1:17:13

Because if we're going to mature to our next stage as a business, and if we're going to want to go to Wall Street, they're not going to understand this un- stoppable growth. Yeah.

1:17:21

And we know that the four-wall units are profitable. Let's prove it." Yeah.

1:17:26

So, they would have That's the first thing they would have done.

1:17:29

Second thing they would have done, again, now that I know, they would have said, "Adam, our tech is not working."

1:17:34

Cuz if our tech was working, we would be able to show things in a way that would be very clear to everybody.

1:17:37

The fact that we can also means that we can't control.

1:17:42

Which means we need to go and fix that also. Mhm.

1:17:44

Those are just two of the good.

1:17:45

But the one thing That's That's the thing that in in September of 2019, if happened differently, we would have had a chance for Mast's idea not only to have worked, but to have worked phenomenally cuz remember what happens then? Corona comes.

1:18:04

And in Corona, WeWork would have had an opportunity to press the reset All those leases we We haven't talked We don't need to get into the details of the business, but we were taking these long-term leases, Yes.

1:18:15

selling against short-term commitments. >> Yes.

1:18:18

We then started growing into enterprise that was taking longer.

1:18:19

If you remember, in Corona, everybody left office.

1:18:24

No one paid their rent, except for one company, WeWork.

1:18:28

Cuz the people running it, it wasn't their money anymore.

1:18:30

They didn't treat it like theirs, so they they pay.

1:18:31

No one was paying their rent. Yeah.

1:18:35

If If we were there, me and our original team, and we sat there and we actually had the opportunity to reflect. >> Yes.

1:18:42

Have partners that were honest with By the way, the honesty could have included saying if we said, "Adam, you did great taking the company from one to uh 3. 6 billion in revenue."

1:18:51

We talked about the size of it, but the revenue grew from zero to huge. >> Yeah.

1:18:56

"We should bring in a professional CEO that should do it daily, and you should become chairman."

1:18:59

The discussion could have been a very real discussion. We had no discussion.

1:19:04

And then when Corona happened, the reset button would have been set.

1:19:07

And I actually think what's interesting about Corona, and now that there's been time to think about it, work has never been the same since. It needed leadership. It needed a vision.

1:19:20

And and when So, yes, I think Masa could have been could have been right.

1:19:30

He's still going to have a chance, by the way, one day. Right.

1:19:33

What happened in 2019 where it changed?

1:19:36

I think, as I said, what happened started actually in that December of 2016.

1:19:44

>> Getting out of the car.

1:19:46

It all moved to chase these things, and it started big It became bigger than us.

1:19:50

And we just grew for the sake of growth, and and Masa saw us go from 450 to 900 million.

1:19:55

A lot of companies promised him that we're the only ones who hit.

1:19:56

Then he saw us go from 900 million to 1. 8 billion. Mhm.

1:20:00

So, then he came in again, and then it became even bigger.

1:20:02

And by this point, we were rushing.

1:20:07

And SoftBank was going through their own set of challenges, and their their own public stock challenges, and and the Japanese stock market.

1:20:17

In March of 2018, Masa comes to me and says, "Why don't we buy WeWork from all your investors at a $20 valuation?"

1:20:27

And >> How many investors did you have at that time? >> Not that many.

1:20:31

Institutional investors, the biggest ones.

1:20:33

Best ones, the biggest ones.

1:20:36

But you know, seven to eight institutions plus 10 individuals maybe. Mhm. Not that many.

1:20:41

And why did he want to do that?

1:20:44

He wanted to build a trillion-dollar company. Yeah. He wanted to go huge.

1:20:48

Yeah, and he could see it working. >> Saw it working.

1:20:50

He knew it was going to cost money.

1:20:52

He had no problem with it losing money. Yeah.

1:20:54

He knew that if it needed to go public, Wall Street won't understand it, but he understood it. Yeah.

1:20:59

He wanted to grow to a way bigger revenue and then do the pause and the cleanup. >> I see.

1:21:04

>> He wanted to keep growing.

1:21:05

>> wanted to wait longer before the cleanup.

1:21:07

He wanted to truly own the category. Yes.

1:21:11

>> At this moment people are copying from all over the world.

1:21:12

There are 40,000 companies that got funded, registered, and opened copying WeWork. 40,000. Hm.

1:21:19

So he saw and he just wanted us to own it. Yeah.

1:21:23

And he to do that, he offered a $20 billion valuation.

1:21:28

$10 billion for all of our investors and employees and $10 billion on the bank account. Mhm.

1:21:35

Just so you have this thing.

1:21:35

This is at the time the company is losing about a billion eight to two billion a year. Mhm.

1:21:42

Again, this is where a different board would have done things differently.

1:21:43

I can't be part of that decision cuz I'm staying in. I wasn't selling.

1:21:47

Wasn't even selling secondary in that this.

1:21:48

I was keeping everything cuz I'm aligned with him and we had goals that but the deal it was a deal 70-30 his way approximately and every time the management team hits a a goal we go up in ownership or at the end when we hit the final goal and which was a very big goal but we believed we could hit it. >> Yeah.

1:22:05

We would own 51% and he would own 49.

1:22:07

Everybody would get more equity and it was was a big plan. He was a big thinker. >> Yeah.

1:22:14

I know they had hiding in it not just WeWork.

1:22:15

It had WeLive so it had residential hiding in it.

1:22:17

It had construction as a new category hiding in it. It it saw the future. Staying in the deal.

1:22:28

I was a conflicted party and therefore I couldn't take any part in accepting the deal.

1:22:33

So, the board did what's called a special committee and that special committee's job was to negotiate with Masa and do whatever they need to do.

1:22:40

And I think they made again, mistakes everything the way you and I talk about mistakes.

1:22:46

I think they were greedy.

1:22:48

Because instead of saying we'll take the win, we'll take a $20 billion company, the $10 billion by the way these investors these investors for 20 million that we're walking out with 2. 4 billion. Clean cash.

1:22:59

They thought the company was worth $100 billion.

1:23:01

They believed also deals have momentum.

1:23:04

Again, I'm sitting on a board and there's a founder like me and the founder brings a $20 billion acquisition to our company that that's that has a great vision but currently is losing money every month.

1:23:18

I go to the founder and I say, "Mr.

1:23:19

Founder, is this what you want?"

1:23:23

And if the founder said, "Yes, yes, maybe it's hurtful that he wants me to sell and doesn't agree with it but if he says yes and it has happened to me and I've done it multiple times.

1:23:31

If the founder said I just did it on a company 3 months ago.

1:23:35

The founder says, "Yes, this is what I want."

1:23:38

I say, "Thank you so much for working so hard for the past 9 years and good luck."

1:23:42

And I walk out with my in this case a 100 x return on my 20 million or 150 cuz they pulled out money.

1:23:51

But no, they negotiated and Masa told them very clearly, "This is my number. I didn't negotiate.

1:23:55

I gave you a huge number in cash for a company that we all know needs a lot still work to do."

1:24:00

And they negotiate from March till September.

1:24:05

Then the Japanese market starts changing.

1:24:08

Then when they see there's a problem, they stop negotiating and they're still fighting till the day they go down and then and then until in Christmas they finally decide, "Okay, we're not negotiating." A little before. Not negotiating anymore.

1:24:18

They agree to everything and they pass it to Masa. Now, here's the problem.

1:24:24

Because this is all happening, Masa and I are already planning that the company is going to grow very big.

1:24:27

I'm already signing a lot of deals.

1:24:29

I'm already planning for this to happen, but I'm not in charge of it happening. Yeah.

1:24:34

And there was a guarantee, there was a protection that if it doesn't happen, Masa still needs to invest a certain amount.

1:24:40

And and I trust Masa because we've done this before. And he invested.

1:24:45

And so we're I'm we're signing deals.

1:24:47

We're running really, really quickly.

1:24:50

This is not happening and then suddenly our our special committee decides, "Okay, now it's time to agree."

1:24:53

What I just want to say one thing.

1:24:58

You're running quickly and this is what Masa wants. Exactly what he wants. >> 100%. To the T.

1:25:02

You didn't go rogue in trying to build a company fast.

1:25:05

This is what you signed up for with Masa and you were doing it.

1:25:10

>> the opposite of going rogue.

1:25:10

People who know me will know that I make a partner that keeps his word.

1:25:16

And if I need to change, he and I are partners and I'm going to change something or I want to change something, Yeah. I will call you.

1:25:20

I will ask for permission. Yeah.

1:25:21

And if you And I'll always offer something. Yeah.

1:25:23

And if you say no, I will say, "I understand." Yeah.

1:25:27

I And then I would say, "Don't get offended that I tried.

1:25:28

I wanted to go a different direction, but I respect our partnership." >> Yeah, yeah, yeah.

1:25:33

So, what I signed up for, it's what we took the money for. Yeah, yeah.

1:25:35

Also, our partners were all there with us.

1:25:36

And I remember their employees Yes. are killing it. They're running for it.

1:25:41

They're running through walls.

1:25:41

Had the Japanese market not changed, would the picture have been different?

1:25:47

Had And again, we're doing a lot of ifs and maybes.

1:25:53

>> Had the board's special committee Yeah.

1:25:54

got on a plane the next day, said, "Masa, you already have two board seats in the company. You know everything.

1:26:01

We don't need to We don't need to disclose anything. Yeah.

1:26:03

20 billion, here's a term sheet, here's our bank account, please sign." Yeah.

1:26:08

It would have happened the next day.

1:26:10

They would have all been out.

1:26:10

The cash would have been there.

1:26:13

And when Corona hits, we wouldn't have had the whole 10 billion cuz we would have been burning, but we would have had enough. Mhm.

1:26:18

And again, we wouldn't be where we are today, which I'm very happy about.

1:26:22

But I think the interesting thing to connect it to where you and I are sitting right now, it's December 20 18.

1:26:30

I am sleeping in a house 3 minutes away from here.

1:26:33

I get a phone call from Masa. Adam, I'm so sorry.

1:26:39

The Japanese market has changed. Our stock is down 30%.

1:26:41

My CFO told me that if I go through with this $20 billion acquisition, our stock will crash.

1:26:48

My first responsibility is to my shareholders. I know I promised.

1:26:52

I know you've been growing. Mhm. I can't go through. Understood.

1:26:57

I remember Rebecca is in the kitchen playing with the kids.

1:27:00

The house that we were living here and has like a kitchen with a couches in it, so the kids are next to the kitchen. Everyone's hanging out.

1:27:06

They're eating, they're drinking, everyone's smiling.

1:27:08

They're really having fun.

1:27:09

I decide I'm not going to say anything today.

1:27:11

I just went and hung out and took many, many deep breaths. Yeah.

1:27:18

That night when everybody was sleeping, I told Rebecca what happened.

1:27:20

She had a nice relationship with Masa, also.

1:27:24

Said, "Let's go see him."

1:27:26

Where is Masa at the same time?

1:27:28

Can you guess where he would be?

1:27:30

Cuz the universe, remember who's writing the story.

1:27:31

If you're directing the story, where would Masa be? Not far. Exactly. 15 minutes away. Unbelievable. We go and sit.

1:27:38

>> And you didn't know that before. >> have a clue. They didn't have a clue.

1:27:41

That's when you're in flow. Yeah.

1:27:42

Bad things or perceived bad things can happen when you're in flow, also. Yeah.

1:27:46

If they're still in flow, it's just another clue to tell you they're not bad. It might be seen bad. We go 15 minutes away. We walk in. We discuss.

1:27:59

Again, in hindsight, legal, you promised, I grew because of it.

1:28:01

There's all these things I could have done, but no. This is my partner.

1:28:04

I understand what he just said.

1:28:07

I'm not going to He wasn't happy to make the call to you. >> No, not at all.

1:28:10

You could see to him, "No." No. >> not easy for him.

1:28:13

He didn't want to make the call. It was his team.

1:28:14

It was his team this spot.

1:28:18

>> And it was just the reality of the situation changed and he was at the mercy of the reality of the situation. He did the right thing.

1:28:23

He did what he He didn't really have a really have a choice.

1:28:29

>> is not Masa's and money. No.

1:28:31

>> This was SoftBank money. Yes.

1:28:31

And Vision Fund money, but SoftBank This So, this is the other thing we didn't say.

1:28:34

This is not even Vision Fund.

1:28:35

This is a SoftBank acquisition. Yes.

1:28:36

Small Vision Fund, big SoftBank. He did the right thing. So, then we talked.

1:28:42

We said, "Well, what are we going to do? We've been spending.

1:28:44

We agreed on an amount that we'll still go." Yeah.

1:28:46

So, we're still very supportive. Yeah.

1:28:47

At this very large valuation, that's where that $40 billion valuation comes from. And I walk out.

1:28:55

But now, it's January of 2019.

1:28:57

We have this big offsite in um LA.

1:29:02

Rented Universal Studios.

1:29:04

Again, a moment of reflection.

1:29:04

I could have gone on that stage, told everybody what happened, told the stars what I really, really would not like to be in any similar situations ever again. Yes.

1:29:17

But if I were, I would go up on that stage, tell everybody exactly what happened, say, "This is what we have in the bank cuz this is all we get. Yeah.

1:29:24

And we're turning this company profitable now." Yes. Which was doable.

1:29:29

100% doable, but I get on that stage.

1:29:34

I say a light version of it.

1:29:36

Not exactly, but I say we're going to get serious today.

1:29:37

My main My My I had one close person on that board that was really close to me.

1:29:43

His name His name is Steven Langman. He's amazing.

1:29:46

He's still a close friend.

1:29:46

He lost a lot from being a part of this and never did he say a word except call me and laugh about it and be a great friend.

1:29:54

He's the definition of a How do we define a great friend?

1:29:56

When things are actually challenging. Yeah. How do they for you? He comes and sees me.

1:30:01

I was in San Francisco I was somewhere around here. He comes, sits with me.

1:30:05

We talk about the fact that we're going to make the company profitable.

1:30:07

We make the commitments, we're clear, we're going to do what needs to be done.

1:30:11

We know exactly what needs to be done again because we're the leaders, we know where everything is buried.

1:30:14

We know exactly what to do to do it.

1:30:16

And then my CFO goes to the Lyft IPO.

1:30:19

This is like a month later.

1:30:22

We're we're warming up to use it to and it's on fire and it's all about revenue.

1:30:27

It has nothing to do with profitability.

1:30:28

He goes, "Adam, based on their value, we're worth We're worth on their revenue.

1:30:32

We have more and they're getting multiple of revenue."

1:30:33

And again, the fire starts.

1:30:35

Now the IPO story and the fire starts and basically he says, "And not only him, bankers, and those bankers are not any bankers, these are the biggest bankers on the planet, come to me and show me books which obviously we still kept that show the valuations that we're going to go public in and they'll make sure to go above 40 billion cuz that's the last valuation cuz they're making a sale again.

1:30:59

All stuff that today I understand, but back then I had no clue. Yeah.

1:31:02

And basically if you keep obtaining growth of this magnitude, the markets will understand that you can always pull the lever and turn profitable.

1:31:11

Grow faster, grow more, we'll take the company public for this gigantic number. And home run? And what happened? Life happens.

1:31:21

Never plan on everything being perfect just like if this works and this works a second ago and again, just look how many times the universe tried to come in and tell me. How many messages?

1:31:34

Turn it profitable the first time, the second time, the third time.

1:31:38

What actually happens is we start running for this IPO.

1:31:41

We keep growing, we don't slow down at all, so we keep burning because we're told it's going to be a multiple of revenue.

1:31:48

And there's Lyft and there's Uber and as we're preparing for this IPO, Uber goes public and immediately crashes.

1:31:56

Value goes down because the public markets don't want just revenue.

1:32:00

They actually want profitability.

1:32:00

And there's this flip that happens in the public markets a lot, where it goes in one second from we all want revenue multiples of revenue to we want profitability.

1:32:09

You're living in a world today where you're going to see you're going to see some very valuable AI companies go with huge revenue and a lot of losses, and they're going to get some mega valuations.

1:32:18

So, it's And I hope for all of them that they can turn the switch whenever they need and do whatever it is they need.

1:32:25

I'm sure they know what they're doing. I'm not.

1:32:26

But, on that, I hope they know. Not my business.

1:32:31

But, the market flips in a second.

1:32:36

It's not about revenue, it's about profitability.

1:32:40

For us, we needed 9 months to turn the ship is sailed really far for us to suddenly move is this.

1:32:46

And I now suddenly we have to take the company public.

1:32:48

If we don't take the company public, it it it won't have enough money. Or so we're told.

1:32:56

And at this point, the bank that then again, without getting into it because it's so many details and but the two banks that are fighting on us, I end up choosing one of the banks.

1:33:09

And that bank is leading us into the IPO, and we're doing the meetings, and they're not going well.

1:33:18

And the articles start coming out because people are in the meetings and things are And And that the valuation is not there, and it's not going to be 40, it's going to be 30.

1:33:26

There's this thing in growth companies, you can't catch a falling knife.

1:33:30

Once it starts dropping, you don't know where the bottom is. And Masa calls me.

1:33:37

And says, "Adam, I don't want you to take the company public. It's not good. It's not looking good.

1:33:41

Things are not working well. Let's let's rethink. Let's regroup."

1:33:45

But, my executive My the leaders around me, and this is a big big choice.

1:33:47

And again, I'm saying this again, so it's heard again.

1:33:52

I take full accountability. Yeah, yeah.

1:33:54

The leaders that I put around me. Yeah.

1:33:57

And when did I start putting those leaders really?

1:33:58

After that 2016, the leaders cuz I was at the beginning attracting people that were mission and purpose-oriented like me.

1:34:06

But when you stop being mission and purpose-oriented, then the people you attract will stop being mission and purpose-oriented.

1:34:10

They all wanted that IPO. Yeah.

1:34:12

Everybody was doing math.

1:34:12

And they're pushing IPO IPO and the bank and everything everything is you can't talk to Masa. You can't talk to Masa.

1:34:18

If you talk to Masa, it will all be ruined.

1:34:22

Even as I tell you this story, I think about Again, this is this is why life and experience is so important today. Yeah. I was advising me.

1:34:30

I said, "foreclose everybody out." Yeah.

1:34:32

"Who gave you the most money?" "Masa." Yeah. "Has he trusted you?" "Yes."

1:34:37

"Has he believed in you?" "Yes." "Go talk to Masa.

1:34:41

Don't worry about what they tell you." Yeah. "Go to Masa." Of course.

1:34:45

>> "And say, 'Masa-san, you trusted me so much. Yeah.

1:34:46

I am grateful and appreciative.

1:34:48

I'm sorry we got into this.

1:34:51

The truth is we were going to buy the company and then you changed in the last seconds, so you put me in a little bit of an uncomfortable situation.

1:34:57

They then told me to go public, so I take accountability, but we did it as partners.'"

1:35:00

I never had that conversation. Yeah.

1:35:02

"We did it as partners, Masa.

1:35:04

What should we do as partners now to solve it?" Yeah.

1:35:06

That one conversation didn't happen. Yeah.

1:35:11

And it didn't happen, and today I know a lot more about it for two reasons.

1:35:12

One, cuz I needed to be where I am today and I wouldn't get there.

1:35:16

But the more technical reason, because there were a lot of people who had different agendas.

1:35:22

And when the numbers are of that magnitude, we were not dealing with billions.

1:35:24

We were dealing with tens of billions.

1:35:26

When the magnitude going to potentially hundreds.

1:35:31

When the numbers are of that magnitude, if you didn't surround yourself with people that are actually there for the right reasons, your chances of getting the right advice are very slow small.

1:35:46

Remember also that at that time I'm very good at this. Yeah.

1:35:48

Yes, I had of practice and yes, I'm but I'm very good at this.

1:35:53

Going into a retreat for a week and and stopping everything and breathing and meditating and really asking myself, "Who do I have that I can trust?" >> Yeah.

1:36:07

And going and talking to them would have been the wise thought.

1:36:09

And then maybe similar things would have happened, but would have been it We never even gave it a shot.

1:36:14

And it sounds like from what you're saying, even though Masayoshi made the call to you that you didn't like or that that he didn't like, the the the first call of like things are changing, I'm guessing you still trusted Masa.

1:36:28

I was not able to quiet down the noise that came around me because the people were telling me, "Don't do that."

1:36:38

were the most powerful people in the business world. Yeah.

1:36:41

We're talking about the heads of the banks. >> Yes.

1:36:44

We're talking about the biggest venture capitalists on the planet.

1:36:46

We're talking about They're We're talking about a lot of the board members.

1:36:51

We're talking about people that have built this repertoire for a very long time. Yeah.

1:36:54

And they have more experience than you.

1:36:56

They've been through this before. This is your first time.

1:37:00

There were a few voices out there.

1:37:02

I missed two Two voices called me that I missed. Yeah. Marc Benioff calls me.

1:37:06

He wasn't such We were close friends, but not the closest. Yeah.

1:37:10

Said, "Adam, I don't need to know a lot to know what's happening. I can read the press. You don't know this.

1:37:15

Salesforce was going to go public. I pulled back. I reshuffled. I did it again.

1:37:19

You must pull back and fire your CFO and general counsel.

1:37:22

And I don't need to know who they are.

1:37:23

I just know they're not advising you right right now." Yeah. Missed that one.

1:37:27

There was another super powerful person, comfortable saying Ruth Porat. Superstar. Same story.

1:37:34

Sends me someone from a different bank to advise me. Said, "Ruth sent me."

1:37:41

But I'm I missed I missed the signs. There was so much noise.

1:37:44

And I'm not talking to Masa.

1:37:46

And the noise is all around me.

1:37:49

And he's not talking to me.

1:37:49

And now the bank that was supposed to go as public is telling me we're having real issues.

1:37:55

And this is moving really fast.

1:37:55

And the articles are coming in the distance.

1:37:56

And again, they keep Everyone keeps telling me how SoftBank is doing this to me and SoftBank is doing that to me.

1:38:01

They actually painted SoftBank as the enemy. Yeah. But they weren't.

1:38:06

He wasn't and they weren't. No.

1:38:08

And And then I have this very monumental meeting on a Sunday with the head of the bank that's that's taking us public.

1:38:21

Where he sits me down and basically says, "Adam, you're going to have to step down.

1:38:23

And if you do in one, you do, we'll take care of it over the business.

1:38:32

We'll take We'll We'll fund the business and we'll do the different things."

1:38:33

And I remember talking to him saying, "But how do you think someone else is going to understand how to I understand what needs to be done." Yeah.

1:38:39

He says, "Yeah, it's a lot of founders think that and then things survive without them.

1:38:44

They don't really I don't know a lot of examples for venture backed businesses that then become huge success without it."

1:38:49

>> the arrogance of the people with the money.

1:38:51

They think they they think because they have the money they know what the right thing to do is. And often not the case. I think so.

1:38:58

I also think he truly believed in what he was saying.

1:39:02

I actually think his team told him that it's possible and maybe they didn't understand what the magic of WeWork really was. That's what I'm saying. I don't think he did.

1:39:08

So I'm not so again, I don't know how much he knew himself. >> Yeah.

1:39:13

Cuz he has a big team and he's doing a lot of things.

1:39:14

This is one other meeting. Yeah.

1:39:16

You know, no blaming at all. No.

1:39:19

And I did I did mistakes before that there's many many things that I did.

1:39:21

And I come back with my partner and and now I have the beginning of a family office that was with me three individuals.

1:39:29

And I'm like, "Okay, we're going to need to It looks like we're going to need to step down."

1:39:34

And the guy that's running my family office he says to His name is Ilan.

1:39:39

He says to me, "I don't like it.

1:39:41

There's a clause and the one piece and miss one missing piece of the story that you don't have is at the same time I have debt of over 400 million that I borrowed against the equity from that same bank that was telling me to step down.

1:39:55

He says to me, "I don't like you.

1:39:57

You have a clause that says that you are that if you step down then you're in breach of your contract cuz you're not come to control clause and then they can call back the money." I said no he wouldn't.

1:40:07

He's the one who told me he'll protect me.

1:40:09

He said, "I don't like it."

1:40:10

So we go and we bring it up.

1:40:12

I have another board member that says, "Of course I'm going to talk to them."

1:40:15

And then I talk to them and there's no problem and it won't happen and everything is good.

1:40:19

I get comfortable even though my team is not as comfortable because again I'm speaking to the people running the place. And and I trust.

1:40:26

I do actually have I trust.

1:40:30

And I step down on the board meeting on the board call.

1:40:34

And 9 minutes later I receive an email from the same bank.

1:40:39

Three There were two other banks part of it but that bank was the biggest part that I'm in breach of contract. >> Wow.

1:40:46

And that they're calling all my shares. >> Wow.

1:40:48

And I have 15 days to pay back 435 million dollars.

1:40:57

Which of course I didn't have and there's no chance I could have done. That's unbelievable.

1:41:03

And just so we're clear about the 9 minutes.

1:41:06

A bank cannot create a document in 9 minutes or in a day.

1:41:11

It has to go through a lot of legal process.

1:41:13

At least a weekend if not a week.

1:41:16

On a very very fast accept.

1:41:16

So it was perfectly executed. Wow.

1:41:21

>> I walked right into it. Terrible story.

1:41:23

And then no, it's not a terrible story. >> It is.

1:41:26

At this point in the story it's a terrible story. >> It's interesting.

1:41:29

I've never told it by the way. Yeah. It's a shocking story.

1:41:33

>> these stories occurred but we've we've never heard these stories.

1:41:34

I think they're are of this story.

1:41:36

I think they happen more often than we know.

1:41:37

They happen more often than we know.

1:41:38

Yeah, and every time it's a tragedy.

1:41:40

Well, let me tell you it's interesting and maybe this is me So now I'm really getting down. Now I feel down. Yeah.

1:41:49

Now my 10 years of spiritual practice are in the garbage. I am properly depressed.

1:41:57

Everybody told me I'm and at the same time articles are coming out at a speed of one every three to five minutes. This is now 2019.

1:42:06

This is Trump's first term.

1:42:08

There's a lot of noise in the media.

1:42:10

I have a friend who called it the first time social media was used it like it was like like social media before social media was fully there in the speed that articles were coming out and I just started and I said but no one knows the story and another story and another story and another story and I'm feeling really low.

1:42:25

And my spiritual teacher calls me.

1:42:30

And this is like two days into this and he goes Adam just called to see how you're doing.

1:42:33

I said to him this is not a good time. I'm not doing great.

1:42:36

Things are really tough right now and I'm not sure Yeah. what's going to happen.

1:42:40

And he says to me I thought you might say that.

1:42:42

I just called to remind you the one thing we learned.

1:42:45

I said to him we've been studying for eight years. Same as eight ton.

1:42:49

Said eight ton we studied for eight years.

1:42:50

We did not study one thing.

1:42:52

I studied three times a week.

1:42:54

I think we studied more than one thing. I was wrong.

1:42:55

We actually only studied two things but they're similar but we only studied two things.

1:42:59

One treat other people the way you want to be treated. The rest is commentary.

1:43:06

Two and this is the real one.

1:43:09

The darkest moment of the night is a second before dawn.

1:43:11

I want you to know something he says I've seen you for the past eight years with belief and connecting people and speaking about spirituality and the business.

1:43:18

Of course you believe in the universe when you were flying like this no one's ever seen something like that happen before. That's not belief.

1:43:25

That's you being an idiot if you don't believe in that happens.

1:43:29

Belief is measured when everything goes wrong and you can look up to the heavens and say, "I don't know how, I don't know why, but this will end up working for the best."

1:43:41

And he says, "If you can, I know it's hard, and most people can't. Yeah.

1:43:46

If you can actually change your perception right now, because belief is a choice, and choose to believe that this will work out, I don't know how, then you version of yourself that will come out of this will be so much more powerful, Yeah.

1:44:01

so much stronger, so much smarter, that you will actually be able to reveal the thing that you were put on this planet to do.

1:44:08

Just like that first lesson. I hear it. I believe it. I almost feel it. Yeah. Almost there. I'm not there yet.

1:44:17

And I hang up the phone, go to sleep. I wake up at 5:00 a. m. sweating, crying. I don't cry.

1:44:23

I cried as a child, I don't cry as an adult.

1:44:26

Everything's fine, nothing is as bad as what I had as a kid, so nothing is bad. Rebecca wakes up 5:00 a. m.

1:44:32

, looks at me, she's never seen me cry.

1:44:34

We're together at this point, 12 years, 13 years. Because you're crying. Said, "Yes." She goes, "Why?"

1:44:41

Said, "Cuz it's all gone." Said, "What?" I said, "Everything.

1:44:45

It's all gone, they're going to take it all away. It's gone.

1:44:46

I did I made this mistake, I made that, it's all gone." She goes, "Everything?" I go, "Everything."

1:44:53

She goes, "Well, remember we spoke about you once putting a hundred million on my name, so in case one thing happens, we'll have something like bankruptcy remote?"

1:45:01

Said, "Yeah, I never did that."

1:45:01

She goes, "Well, remember we spoke about the fact that we never signed a personal guarantee, so it's not all gone.

1:45:07

We didn't sign a personal guarantee."

1:45:11

Said, "No, we're signing on a personal guarantee.

1:45:13

This piece for your if you really want to understand first because we were going to go public.

1:45:16

That debt I had that after an IPO you're supposed to be in a lockup period, so that they can't use that as collateral.

1:45:23

So I wrote in the documents that for the six month after the IPO it's personal guarantee.

1:45:26

But I forgot my lawyers forgot to write but if there's not an IPO on so there wouldn't be then that guarantee goes away.

1:45:33

So I say to her no we're personally guaranteed.

1:45:40

Our relationship I think we all get to a moment where the two sides get actually tested. Something real happened. Yeah.

1:45:46

Many ways Rebecca could have answered this.

1:45:49

Many ways other partners could have reacted. She took a deep breath.

1:45:55

She looked at me and goes "You know my mom's house in upstate New York she owned it for 30 years she doesn't have a mortgage.

1:46:04

We could move there with five kids at the time we'll take our five kids.

1:46:06

We're going to home school for a little we don't need to send them for school.

1:46:11

Uh you're going to take a second to find yourself again.

1:46:13

If you want to go back into business amazing.

1:46:14

If you don't we'll move to Costa Rica.

1:46:18

We'll do a little real estate.

1:46:19

Kids will be home school we'll surf every day.

1:46:23

It'll work out either way. Amazing.

1:46:23

No matter what you got me and the kids.

1:46:28

What are you crying about?

1:46:31

At this moment I understood something.

1:46:33

When we're children and we have a hard moment when we really have a hard moment with our parents like a difficult that you're like suppose you trust them and they're not there for you.

1:46:42

That's why it's so sad when children go through horrible things. There's no one there.

1:46:47

But as adults if we do have a partner if we have a few close friends they say you have one close friend you have a whole world.

1:46:53

If we have a few close friends if we have a family suddenly I felt like I'm not a child anymore.

1:47:00

And there's something I can lean on.

1:47:02

It's not the end of the world.

1:47:05

But she looks at my face and she sees that I'm not I'm almost there she knows me well but no she didn't get me over the hump.

1:47:11

I'm still a little depressed and it's not like me cuz I don't get depressed.

1:47:15

And she goes and by the way something I've meant to tell you when we You you were broke.

1:47:19

I find you much sexier broke than I do with money. Then I smiled. Now I wasn't happy. I walked downstairs.

1:47:32

Remember I had 15 days to pay back from the 30 million that doesn't exist. I walked downstairs. I have three employees.

1:47:41

A week ago, I had 13,000.

1:47:43

I went down from 13,000 to three cuz now it's all gone.

1:47:46

The three family office who came just joined me a few months ago to manage all this money that now we don't have. And I'm smiling. 6:00 a. m. We started at 6:00 a. m.

1:47:53

cuz we had to deal with this horrible situation. And I'm smiling.

1:47:59

And they're like, "Why are you smiling?"

1:48:01

I said, "First of all, I'm smiling cuz it's all going to work out."

1:48:03

They thought I lost my They're very rational investors. They're world-class.

1:48:07

They're all three of them are with me still.

1:48:10

Elon, DJ, and Max, they're unbelievable.

1:48:12

So, I said, "We're going to work out.

1:48:13

It's all going to work out because I believe.

1:48:17

And I don't know how, and I don't know why.

1:48:19

This was the darkest moment. Dawn is coming.

1:48:21

Just going to take a deep breath. Going to show itself.

1:48:24

And my wife thinks I'm sexy. Amazing.

1:48:34

Do you know who saves the day?

1:48:37

If you wrote the movie, who saves the day? But how? Who is his messenger?

1:48:46

Do you know that by talking to you now I'm actually understanding myself what happened?

1:48:50

Do you know how many times you told me that I should talk about this and I haven't?

1:48:53

And you're like, "Adam, we should talk about it."

1:48:57

And I was not expecting us to talk about this today.

1:48:59

I was expecting to talk about a lot of other things.

1:49:02

But by saying it, I myself am understanding something.

1:49:03

There's some actions I'm going to need to do after than this. Massa. Massa saves the day. How? He pays back the debt. How?

1:49:10

He calls through Marcelo with his team.

1:49:14

They call Marcelo calls him for a meeting. So, here's okay.

1:49:18

So, now we're going to connect and this is all going to connect. This is back to belief.

1:49:26

I celebrate the holidays.

1:49:26

I'm celebrating Yom Kippur.

1:49:28

It's the day of How do you say that word? Atonement atonement? Atonement.

1:49:33

It's a day of reflection. We don't eat. We don't drink. We pray.

1:49:38

Or we pray to go to the next version of ourselves.

1:49:41

We pray to be forgiven for all of our sins.

1:49:45

We pray to learn from our past mistakes.

1:49:47

And it's Rosh Hashanah and then Yom Kippur.

1:49:49

And in Rosh Hashanah, a close friend of mine comes with me and he's Everybody around me is down, by the way.

1:49:54

They're all people are really crying People are really affected by what happened.

1:49:58

And I'm very affected because I feel extremely bad for the employees and for everybody that was at the churning with me.

1:50:05

The investors, all the investors except for us have all made money already multiple times.

1:50:11

I have this sense of belief.

1:50:11

I don't know how it's going to work out.

1:50:15

And so, we do the this Rosh Hashanah and this and then and then between Rosh Hashanah and Yom Kippur and then Yom Kippur happens and we're praying.

1:50:25

And there are many different without getting into in Judaism, there's different sectors and they don't all get along.

1:50:30

And I practice with many different sectors.

1:50:32

I practice with this sector and that sector.

1:50:34

So, three different sectors who do not get along with each other, which is a shame, but it's the truth.

1:50:40

All three of them send representatives to pray with me that day that Yom Kippur.

1:50:45

One of the biggest rabbis sends his sons.

1:50:46

They've never not prayed with him in Yom Kippur.

1:50:49

The other one, the head of the organization and his number one guy comes eight ton, the guy that spoke in and his Michael Bird.

1:50:56

All these people come together around me and we are praying like there is no tomorrow.

1:51:02

We're praying for a miracle.

1:51:05

And suddenly before it ends, Max, one of the three, comes.

1:51:08

I see on his face he has something really important to tell me.

1:51:12

He said, "Max, this is all business. Don't talk to me.

1:51:13

24 hours no talking business. This is no business." And he's sitting there. He can't help himself.

1:51:16

He said, "They keep trying to want to tell me something." I said, "Max, please.

1:51:21

Unless it's life and death, I need you to let the sun go down. Just participate. Enjoy. Join us.

1:51:27

We're not talking business." And it ends.

1:51:31

And he says to me, "You won't believe this.

1:51:36

Marcelo is inviting you for a meeting.

1:51:39

He wants to work the situation out." I go and meet Marcelo.

1:51:47

He basically says, "Adam, we trusted you.

1:51:50

We invested tremendous amount.

1:51:56

We want to now save the day the way we want to save the company the way we see fit.

1:52:00

We would like you to give us the keys.

1:52:03

In return for that, we will pay your debt in full.

1:52:04

So, no one has a gun to your head because we don't like how they're treating the situation."

1:52:10

Again, at this point, they were from the outside because everybody else was able to keep them locked out.

1:52:14

This is what was really happening.

1:52:18

If I would have gone before we If we were together, they wouldn't have been able to keep them locked out, but they kept them locked out.

1:52:25

We will pay you and we'll buy your controlling shares for approximately $100 million.

1:52:32

It's supposed to be even more.

1:52:38

We will uh pay back your debt 100% and in full and on time.

1:52:45

And and then we're going to go and we're going to invest an amount in the company so the company can go to its next level.

1:52:53

And we will buy from you and from all the other shareholders at the discounted valuations, the approximate valuation of $10 billion.

1:52:58

The last valuation was was 40.

1:53:01

Uh 30% which will be a billion to you and 2 billion to cuz I own 30% of their slots, of everything, minus their piece.

1:53:10

Um and there was the Miguel part and 2 billion to everybody else.

1:53:13

All your investors, all the employees, everybody. And we said yes. And I stepped down.

1:53:20

And they put Marcelo the beginning was running it himself.

1:53:24

Um interactions with Marcelo were always whatever he promised that would happen.

1:53:28

And um and then he chose the CEO that he chose.

1:53:32

He asked me to not be as close.

1:53:32

Again, this is back to the old playbook.

1:53:34

This is the playbook of keep the founder away and like this.

1:53:38

And they come in and the thing on the first day they do is they fire all the people closest to me.

1:53:45

The problem is they were the ones who knew everything.

1:53:47

They're the only ones who knew. Not only ones who knew.

1:53:49

They lived it and breathed it.

1:53:51

But it's an old playbook.

1:53:53

You kill the king and then you take out the king then you kill all of his loyalists.

1:53:56

I they called me the two biggest loyalists called me said, "Adam, should we stay cuz the business will go down?"

1:54:01

I said, "Of course you should stay." They got fired first. They put a new CEO.

1:54:08

And we negotiated the three and remember when we negotiated the reason I stepped down also and the reason I accepted this we negotiated 3 billion for the whole company, not just 3 billion for everybody to take out money.

1:54:17

And uh 3 billion for the whole company.

1:54:20

So the company is funded. They have a new CEO.

1:54:22

And the payment is scheduled.

1:54:24

The 3 billion to the company money in the company goes in.

1:54:26

The 3 billion for because it's their company now and they own most of it.

1:54:29

The 3 billion that's for everybody else is scheduled to come in April 1st, 2020. Corona hits. March.

1:54:38

And the last day of March we get a letter from SoftBank saying, "Force majeure."

1:54:44

And though it wasn't in the contract, uh we're not paying.

1:54:51

So all the money that I thought was coming was going to go.

1:54:52

By the way, by this point I'm a practiced samurai. Deep breath.

1:54:59

But and Rebecca a month before said it's never coming.

1:55:01

She she was never She was like it's never coming.

1:55:06

Uh she was like too good to be true.

1:55:08

We're going to We're going to have a little more. We're not out yet. I took a deep breath.

1:55:12

Didn't come in and I got the last gift that master gave me. Gift of litigation. Litigated.

1:55:18

We learned a lot about that.

1:55:22

I don't know if you want another story, but I could tell you how it goes from there, but What was it like having people write things about you that are not true? You know are not true. What's that like?

1:55:32

You know, connecting to what you and I just spoke about.

1:55:35

There are a lot of things I knew I was giving away when I stepped down.

1:55:41

The one thing I completely missed was that I was giving away my narrative.

1:55:48

I had a platform and I had a microphone.

1:55:52

And then in one day, I stepped down which to the un to the eye that's not experienced >> Yeah.

1:55:59

probably means he must has been wrong.

1:56:01

Everything he did was wrong.

1:56:02

Otherwise, he wouldn't have given them back the keys.

1:56:04

The story that you just heard the build up, they didn't No one knew any of it. Yeah.

1:56:09

That was a hind That's something I now understand.

1:56:12

So, I handed over the control over my narrative.

1:56:18

You were never accused of doing anything illegal.

1:56:21

You were never brought up on any charges.

1:56:23

It was all just innuendo, storytelling.

1:56:28

It was me being a novice to the game of life when it comes to communication Yeah. and uh media.

1:56:37

I remember the first time I met you, you did not need to You didn't need to hear the story to know the story. Yeah.

1:56:41

And another person when we met both of you at the same time and we're in Malibu. Marc Andreessen.

1:56:48

Marc Andreessen calls me a few weeks after I stepped down.

1:56:51

Knowing that because he heard so much noise from the media, that must not be the He knew what the story wasn't. Yeah.

1:56:58

He didn't know what the story was and in hindsight now that I know him and Ben so much better, we've spoken about it a little.

1:57:03

For them, getting such media coverage and hearing so many stories means pick up the phone and call. Yeah.

1:57:10

>> There's something very interesting.

1:57:11

There's an opportunity here.

1:57:11

Yeah, something's going on that's not being said.

1:57:14

All because this story that's being being shouted, it's too much.

1:57:16

Not only is it too much in their eyes, we know what WeWork built. Yeah.

1:57:23

We know Mark says this is a I've shared this before, but I think it's relevant.

1:57:29

He calls, first phone call, Adam, you might not know who I am.

1:57:31

I'm Marc Andreessen, I'm an investor.

1:57:32

I said, Mark, I know exactly who you are.

1:57:34

A16Z were already very big at this point.

1:57:37

This is 2019, right after a little after. This is a 2020.

1:57:42

And he goes, and what do you think?

1:57:42

And I start telling you a little bit what I think, and I'm speaking a little bit like the story that's being told about me.

1:57:50

And he goes, oh, you're still at that stage.

1:57:51

I said, what stage is that, Mark?

1:57:53

The one where you believe what other people are saying about you, and you forgot what actually happened.

1:58:00

This is like the first time I met Marc Andreessen. Like, I love this guy. This is amazing.

1:58:02

I said, well, well, Mark, yes, you might be right.

1:58:05

He goes, would you like me to tell you what we think about you here at A16Z? I said, please.

1:58:13

He said, you're the only company in our entire portfolio, at the time about 400, today over 1,000.

1:58:20

You're the only company in our portfolio who every single startup that we have either is using today or used in the past.

1:58:29

We have no other company that we could say that about.

1:58:31

What you've built was not built in one room with a bunch of engineers.

1:58:34

Actually, your tech was your weakest link.

1:58:36

We can talk about that one day.

1:58:39

What you built is you had to be in 50 countries.

1:58:40

You were in 70 languages.

1:58:43

You were doing construction. You built a brand. You created a movement.

1:58:47

The word WeWork is said as a verb almost.

1:58:49

It means I've made the WeWork.

1:58:51

He said, do you know how many pitches we get under we work of this and the we work of that?" Yeah.

1:58:56

You You created a category. That's what we think.

1:59:00

Um I said, "Thank you so much." And I hung up the phone.

1:59:04

Missing the fact that he actually wanted to do some business or get to know me better. Cuz I was at that stage.

1:59:08

But back to your question. I handed over the mic. Yeah.

1:59:13

And I didn't understand that by doing so the story's going to run away from me. Yeah.

1:59:22

But because we never actually did anything of the things that you just said. Yeah. All it was was a story. Yeah. Makes a good book.

1:59:33

I heard it makes a good television show. Yeah.

1:59:35

But um But if I haven't So, I haven't watched the television show. Yeah.

1:59:39

I watched the first episode cuz my friend Stephen Langman really wanted me to.

1:59:45

But I know from my friends who watched and people watch it and the stories in this If they have 30% of the story right, that would be a big number.

1:59:54

What's interesting about the TV series about you, I'll call it a smear piece, is everyone I know who's seen it thought that both you and Rebecca were the heroes of the story, which is a funny thing to come out from a smear piece being the heroes.

2:00:16

I think this is connected to what we said before.

2:00:19

I think truth and authenticity are the biggest tools that we can have.

2:00:28

So, even though I gave away the mic Yeah.

2:00:30

and let everyone else run with it somehow the truth even in something that was supposed to be a smear piece, floated to the top.

2:00:40

And I'll tell you a little bit how I think. So, Jared Leto.

2:00:45

So, we talked about Andrew Finkelstein.

2:00:47

He's a character in our story, I see, which is excellent.

2:00:49

He made sure, by the way, to write himself out of every show.

2:00:53

Cuz he's in Hollywood, he's very powerful. Uh but not not this one.

2:00:55

He doesn't get to write himself out of this one.

2:00:59

Andrew Finkelstein keeps getting email from Jared Leto's uh agent saying Jared's going to play Adam. He's a method actor. He must meet Adam. And I'm ignoring.

2:01:07

Ignoring, ignoring, ignoring.

2:01:10

And and eventually Andrew calls me and he says, "Look, Adam, they're driving crazy.

2:01:18

Can't we take one meeting with the guy?

2:01:19

He'll come in, he'll come out.

2:01:19

He's a movie star, he's an Oscar winner. Be fun."

2:01:23

So, I have a defamation lawyer at the time and we're going to show it's going to come out.

2:01:26

We're like, "How's it legal?

2:01:28

How can Apple tell a story about us using our name that we haven't approved, that we haven't read, that we didn't write?"

2:01:35

And this whole thing, if you're a public figure, you could do this, could do that.

2:01:38

I think 15 years ago it wouldn't be. Today, obviously, it is.

2:01:39

Social media today, we're in a different place.

2:01:44

And but I remember talking to the lawyer.

2:01:46

I said, "Look, Adam, if it's so horrible because Jared Leto is also a producer in this, a credit, at least we'll tell him some of the true story.

2:01:54

And maybe it will play favorable for us." Mhm.

2:01:57

I I also remember the whole time reaching out to Apple and sort of being I sent an email directly to Tim Cook, actually, saying if Apple is all about personal privacy and safety and security, how can on the one hand you be that when

2:02:10

it represents your iPhone, but when it comes to you making content, you can use a person's name and a person's family and a person in a story that I know you're not going to have the right story cuz you guys never spoke to me. So,

2:02:19

So, factually wouldn't be correct.

2:02:24

We never got a response from Tim.

2:02:24

I did We did get a response from his lawyers that read the following.

2:02:28

You're going to like this one.

2:02:31

We reviewed the series again.

2:02:35

Your claims will go to court.

2:02:37

You will litigate for 3 years and you will lose. We're moving forward.

2:02:39

You're a public figure and you will lose.

2:02:41

Not you're wrong, or you're this, or you're that. Um So, that was that.

2:02:51

So, then we say, "Okay, to Jared Leto, we say fine."

2:02:55

And we meet him in Miami. He walks into the house. Sure I met him before.

2:02:59

He's a little shorter than me.

2:03:01

Looks up, puts his hands on my face like this.

2:03:04

And in a his version of my accent, I think it's a very good accent.

2:03:07

A very good but very good demeanor. And he And he had it.

2:03:12

And in a demeanor, in his version of Adam Neumann, starts talking to me and saying how he's been looking at me for 3 months, and this, and this, and I'm I'm not familiar with Hollywood.

2:03:18

I've never met method actors.

2:03:20

The whole thing for me is a little bit outrageous.

2:03:24

And And And we just do this thing for the next hour and a half.

2:03:26

And then Rebecca is there and stooping.

2:03:27

Then at one point, he looks at Rebecca, he goes, "You know, there's this thing when you and I are stooping."

2:03:30

He goes, "Jared, you and I are not stooping. It is a television show. It is not the truth."

2:03:38

She's laughing, but it's It's a surreal moment.

2:03:40

You asked, "How does that feel?"

2:03:42

I'm looking in and he said, "I'm going to have these prosthetics."

2:03:43

And the guys say, "How you going to Then he sits at the table, the kids start walking in.

2:03:49

And they say, "Who is this?"

2:03:50

And I said, "This guy is going to play me in a television show."

2:03:53

And they go like, "Well, wait, but he's shorter, but he doesn't look like you, but this."

2:03:56

And every every kid has his own very smart thing to say.

2:04:00

This is in the midst of Corona all of this is happening.

2:04:02

And we finish our 2 hours together.

2:04:06

And I walk Jared outside.

2:04:06

He asked me if we can have a picture together. Yeah, I am there.

2:04:09

Interesting thing for him, which is I'm sure usually he's the one that people take pictures with.

2:04:15

He looks at me, he goes, "Listen, this was supposed to be a smear.

2:04:18

You're calling it a smear piece.

2:04:19

This was supposed to be a takedown.

2:04:20

I know cuz I read the script."

2:04:24

It's a shame we didn't meet before, cuz I would have gone and fought for the script. But don't worry.

2:04:31

I now know who you are, and I'm going to play you the right way."

2:04:34

I said, "Who is that, Jared?" He said, "Adam, I truth.

2:04:36

I'm a method actor, but there's the real Jared.

2:04:37

The real Jared loves music. I love being on stage.

2:04:42

I love being a rock star. You're a rock star.

2:04:43

I'm going to play you like a rock star. I saw your family. I saw your kids. You're a good guy.

2:04:51

What I was told was not accurate.

2:04:51

I wish I knew it before." He said it twice.

2:04:55

"But don't worry about it.

2:04:55

You're going to come out like a rock star. Just do me a favor. Don't watch the show." And you kept your word. >> I said, "You got it." >> Beautiful. I said, "You got it." >> Beautiful.

2:05:04

But let's let's let's really go into this for a second.

2:05:09

How many times in life do we think, "The IPO is supposed to be my big moment. >> Yes.

2:05:15

>> The moment I was going to was going to be amazing."

2:05:16

Ends up being a total utter catastrophe.

2:05:20

Never even get to the IPO.

2:05:23

The television show coming out was supposed to be this horrible moment.

2:05:26

Even my team, by the way, uh got very stressed about that television show.

2:05:29

Was supposed to be that horrible moment where it all goes down.

2:05:33

And yet it comes out and the day after it comes out, the inbound starts.

2:05:38

Entrepreneurs wanting investments, partners wanting to partner, employees, everything.

2:05:43

It was >> It's fascinating. >> floodgates.

2:05:47

>> I've never seen that happen before.

2:05:48

There's a very famous story in the Bible about it.

2:05:50

The Jews led by Moshe Moses are coming out of Egypt.

2:05:53

And the local all the local nations are very afraid they're going to come and there's this Balak and Balaam, a king and a sorcerer.

2:06:01

He wants to curse the Jews.

2:06:01

And the sorcerer says to the king, "Look, the Jews they have God. It's hard to curse them.

2:06:06

I I don't want to do this."

2:06:07

And it said the story is longer, but he says, "I'll dream I'll meditate about it."

2:06:11

And in the dream, God tells him, "Don't curse the Jews."

2:06:15

He wakes up in the morning and he says to the king, "God spoke to me. Don't curse the Jews."

2:06:18

And even though he was in he was working for the negative side, even people who work for the negative side have their own connection to the universe.

2:06:26

It takes power to be on both sides.

2:06:28

And three times and eventually the king forces him, pays him a fortune, forces him to this.

2:06:32

They go in a mountain and he's starting to curse the Jews and the blessings come out.

2:06:36

And he's cursing the Jews and the blessings come out.

2:06:39

Eventually at his last curse he foresees Messiah and the entire coming in the salvation of the world. Crazy story.

2:06:46

So that's where in the Bible is where we hear stories like this.

2:06:49

I think the truth is the truth is the truth. Yeah.

2:06:53

I think if I were to have done something that was actually one of those things that he said before it would have ended differently. Yeah.

2:07:01

I think I was saved by actually my relationship with Rebecca.

2:07:07

She kept me straight honest loyal. Yeah.

2:07:11

We didn't keep our word every time but we tried so hard to do the best we could. Yeah. We kept our commitments.

2:07:17

We we did our version of what we thought was right to do. Yeah.

2:07:21

And even though a lot of our close friends used to say is to walk into a room I had a thousand friends.

2:07:27

Then in one day I went down to five of them were my family. Yeah.

2:07:30

And even that was a gift.

2:07:33

The other The other thing that's interesting about the smears Rebecca was always smeared.

2:07:36

Oh, she got the worst of it.

2:07:39

We didn't even speak about that.

2:07:42

>> that it was as if they were saying she was incompetent because she was a woman.

2:07:46

That's what it was all about which was like is that the story in 2020?

2:07:47

That the because she's a woman she's incompetent?

2:07:52

That's what the smears were.

2:07:54

>> how many times I think when things like this happen the women the woman gets portrayed even worse.

2:07:59

But anyway, let's be clear. I was CEO and chairman. Yeah.

2:08:04

The 100% it wasn't Rebecca.

2:08:04

But they negated the fact of what she brought to you which you recognized.

2:08:13

>> And and what she brought to the brand.

2:08:14

You know if if you just as a word the brand that everybody knows we work everybody knows we work Adam and Miguel. Yeah.

2:08:20

Was a hard working let's go build office space where this logo with the man with the hammer we started breaking the Macintosh computer.

2:08:26

You would have loved it as Miguel did it as original hammer breaking the original Macintosh computer.

2:08:32

A little bit of a I think of a old Steve Jobs that old commercial with with the woman throwing.

2:08:39

Um when Rebekah walked into WeWork in the first 90 days, she created do what you love, create your life's work, build a world where people make a life and not just a living.

2:08:51

She gave it so much intention and so much meaning that then I ran with it like it was nobody's business, but she brought, which is what she always does, intention, meaning, in other words, authenticity.

2:09:05

For people who know Rebekah, she does not lie. Yeah.

2:09:09

If she does something wrong, she will tell you.

2:09:10

All you need to do is ask her.

2:09:13

Tell me what happens with the IPO.

2:09:13

So, you're not going to discuss, you're taking the whole thing. They get it in. Okay. Let's do it. So, let's do it. Let's go for it.

2:09:22

So, April 1st, money doesn't come in.

2:09:25

The whole world is under Corona.

2:09:25

I'm sure everybody that is listening to this can remember where they were April 1st.

2:09:31

Even my kids realized the money wasn't coming.

2:09:32

They go, "Daddy, it's April's Fools' Day.

2:09:34

So, of course the money was never going to come in."

2:09:35

I'm like, "Yeah, you guys are geniuses."

2:09:37

We're in Israel at the time cuz we always wanted to try to live there and this was our opportunity.

2:09:43

And suddenly a second ago in the end of 2019 when we stepped down and the media and all the craziness felt like we were secluded and the whole world was open and we were like locked up.

2:09:51

Suddenly everybody was sort of where we were. Yeah.

2:09:54

But we had 6 months head's up.

2:09:57

We're ready for We already We were already in the bunker when that hit. Yeah.

2:10:00

Remember from the story, we did have the original amount of money that was given to us.

2:10:03

We never got the bill, but we got that original amount that they bought from us to pay. We had a team. And we just got to work.

2:10:09

When everybody else was busy understanding what happening, I started we started learning how to trade stock and and how to invest in different ways and small businesses and big businesses and early stage and late stage.

2:10:20

Even though we weren't using a big pool of capital, we were hungry, and we were ready and willing and with a very open mind.

2:10:26

And the world just changed, but part of how I have approached life like a child, okay, today's a new day.

2:10:32

Now there's Corona, what does that mean?

2:10:33

What's going to go up now? What's going to go now?

2:10:37

So, as as as all of that is occurring, this is the beginning, the seeds were starting to grow.

2:10:43

What's going to set residential?

2:10:46

Residential's going to be interesting cuz even if people stop going to the office, the home is where the heart is. So, park that aside.

2:10:52

The litigation starts because we want to we want to uh to get paid the 3 billion that was promised not just to us for a third of it, but the other 2 billion is all the investors, all the employees, everybody.

2:11:03

And it was promised, it was signed, it's contractual.

2:11:06

So, we start getting into litigation.

2:11:08

And as we get into litigation, we move now from Israel back to the Hamptons.

2:11:12

We live in East Hampton, Andrew Finkelstein is living right next to us.

2:11:17

Another interesting thing about him, so many close friends that I had disappeared when this happened.

2:11:23

I do think that's probably the saddest thing of the whole thing. Yeah.

2:11:28

And some of them don't think they disappeared, and I forgive.

2:11:30

So, I'm like I'm I'm over it.

2:11:33

But, you really get measured when your friends are in their toughest moment.

2:11:38

And you don't get measured, by the way, it's nice to send a text and to pick up a phone call. >> Mhm.

2:11:41

But Andrew calls me and goes, "Hey Adam, you know I'm a Hollywood agent, Corona, I can do my work from anywhere.

2:11:46

Do you want me to come and live next to I'll rent a house.

2:11:50

It's nice to know you're going through a tough time.

2:11:50

We'll hang out, we'll do a we'll do our own co-working space, we'll make a WeWork out of the one of the houses. >> Beautiful.

2:11:56

We'll do a beach house co-working, our own WeWork, we'll have fun, we'll work from the jacuzzi.

2:12:02

I said, "Sounds amazing, Andrew."

2:12:04

And uh and he moves in, so he's there with us, and he's in the house next door, and we're there.

2:12:10

And we are starting this litigation, and it's not working.

2:12:14

It's not working because the contract wasn't perfect and we didn't did it and we weren't there and SoftBank is very powerful and they don't want to pay and they did put the money in the business and they control the business now, so we can't get any information.

2:12:30

And I am a person until this point that has always negotiated with power and leverage.

2:12:37

I'm very good at momentum.

2:12:38

When I have the leverage and I have the power, I'm very good at negotiate.

2:12:43

But now I have no leverage, no power.

2:12:46

I'm completely on the outside. Nothing I can do. We're litigating.

2:12:50

The litigation doesn't look like it's headed in the right direction because of a variety of reasons, but also because WeWork's not really partnering with us cuz we're we're the founder that was funded outside with the start.

2:13:01

And at this point, if you're in WeWork, you believe 100% not 90 to all the press that you read because that's And I do think the world's different today.

2:13:08

I hope people today don't believe everything they read, but this is still 2020.

2:13:11

People are just wising up.

2:13:11

And I remember going and I was doing these meditation sessions of an hour each.

2:13:21

And I'm doing one of those.

2:13:21

And as I'm like very deep while listening to music, I suddenly have this again, moment of vision.

2:13:28

This basically what I see is that if a different person, if I found someone who could get excited about WeWork and would want to take WeWork public, SPACs for or at the time so through a SPAC, then must sign SoftBank and all people fighting thing that three billion wouldn't would want to take the company public cuz they own the majority of it, would settle the litigation cuz no worth fighting it, and would let the company go public.

2:13:52

And if all those things went out perfectly, then everything would be resolved.

2:13:58

I come out of the meditation.

2:13:58

I call my dad, who I'm very close to.

2:14:00

He's actually right outside here hanging out right now waiting for me.

2:14:06

He was surfing with me this morning.

2:14:08

And I say, "Dad, I have an idea. I'll find a guy.

2:14:09

He'll say he wants to invest, we'll take the company public, SoftBank will settle, everybody will get paid, SoftBank will make back their money, everybody will be happy.

2:14:18

It's all It's all going to work out.

2:14:20

Cuz I don't know, that's too many things that are going to work out.

2:14:23

And my dad and I argue, he does not believe in God and I believe in God.

2:14:25

I said, "Dad, if this happens, will you believe in God?"

2:14:29

Looking for an opportunity. He goes, "No.

2:14:31

I'd believe that I have a very talented son." I say, "Okay."

2:14:36

He laughs cuz I said, "Okay." I call you BS.

2:14:41

I say, "Give me two names of people that might find WeWork exciting." They give me two names.

2:14:44

Meeting number one, meeting number two.

2:14:46

Second meeting, the guy goes gaga. He loves it. He He sends me back.

2:14:50

He ends up taking it public.

2:14:55

He knew Steve Steve Jobs when Steve Jobs was this, he was part of the company back.

2:14:58

He knew this story, knew that story.

2:15:00

Had all these stories in his head that fit this perfectly.

2:15:02

But I was very clear, I said, "Here's what I would do."

2:15:05

I gave a clear plan of how to make WeWork profitable.

2:15:07

Again, I still know the levers to pull. Yeah.

2:15:09

I told him exactly what to do.

2:15:11

I understand the pieces on the board. We have no power.

2:15:14

We brought the guy to basically do the SPAC, but we're litigating at the same time.

2:15:18

They're in control and they don't want settle cuz they don't want to pay anything.

2:15:22

They don't want to pay a billion, they don't want to pay.

2:15:25

We're going back and forth, back and forth, and we try to give them this IPO, but they don't know that they want to go public, and they don't know they will do well public cuz they're not sure that anybody the spark in WeWork is gone.

2:15:32

So, they're not sure that's going to solve their problems, and the last thing they need is another headache.

2:15:37

So, they're going public was good, but not enough to push it over the edge.

2:15:41

And part of what happens when you do a litigation is everybody does discovery, everybody does all the different things, and and you say, "Oh, we're going to say all these things about you.

2:15:48

You're going to say all these things about this, and this happened, that happened. Your fault, our fault."

2:15:53

And we're getting very close to end the contract's going to say this, contract's going to say that.

2:15:58

And we're getting very close to a to a litigation date. To a to a court date.

2:16:04

They're going to court, and then you're going to fight whose contract is right.

2:16:09

And very close to it, after we all basically everybody threatens everybody with everything, we agree on a settlement.

2:16:17

And the settlement is this complicated thing where the money will get paid in 6 months.

2:16:21

First, the company will go public, then this and all these different things, and then the money will get paid after.

2:16:25

And this is 4 days before Rebecca gives birth.

2:16:27

And I had a lawyer at the time who ran his own firms, and his name was Eric Schiffer.

2:16:32

Now, he's a partner with me.

2:16:35

And he and I agreed to a settlement.

2:16:38

It's all happening on Zoom, cuz this is Corona, so this whole things happening on Zoom.

2:16:41

Their lawyers, our lawyers, and they spend 10 times as much as we're spending.

2:16:44

They have the biggest lawyer in the world.

2:16:47

And Andrew Finkelstein, our Hollywood friend, is sitting right behind the screen.

2:16:52

And for 3 weeks as this negotiation is going, he does not work. He's just doing that.

2:16:56

And then I go, they say, "Andrew, you need to work."

2:16:57

He said, "I'm in Hollywood.

2:16:59

The biggest show in the world is happening right now in front of my face, and I'm not missing a beat." Let me be. Wow.

2:17:04

Corona, remember, no acting, no nothing's happening.

2:17:08

He's there, and once in a while, when he feels there's something important to say, he writes it on a piece of paper.

2:17:14

He shows it to me above the screen. I read, I listen. Again, who do you trust? Puts it down.

2:17:19

We're negotiating, negotiating, and at some point they're like, "We're going to pay. We're going to do this. We're going to do that.

2:17:23

And and but we're going to pay you in 6 months."

2:17:27

I say, "It's not It's not It's not going to work." And he said this.

2:17:30

I said, "Look, even Marcelo, even if I wanted to, you know, I can't go back to Rebecca and make decisions like this together.

2:17:35

I can't tell her in 6 months.

2:17:36

She's It's not going to work."

2:17:38

He goes, "Call Rebecca, and I want to talk to her."

2:17:39

She's 4 days before giving birth.

2:17:40

We call that stage, with six kids, we've seen it a few times, couch commander.

2:17:46

That's when she's on the couch, and orders are given, couch commander.

2:17:50

And I tell I I I tell I So, I get up to to call her in, cuz that's what he said, and then we all know each other.

2:17:57

And Andrew picks up the paper, "If you call her in, we will all be in court next week. You fix it. I I read it. I sit back down.

2:18:07

I said, "You know what, Marcel?

2:18:08

On second thought, let's figure this out.

2:18:11

Let's just agree how are we going to be protected?"

2:18:12

And we basically work out the deal that's going to be done, but we get paid in 6 months after the IPO, after this, after that, with all these babies and us.

2:18:19

Not just us, all the employees.

2:18:22

But it's the best we could get.

2:18:22

We couldn't get a better settlement, and if I don't settle, there's no IPO.

2:18:25

And again, I tried to do what I think is best for everybody.

2:18:28

And I felt taking it public if I get the chance. We agree?

2:18:34

I go to Rebecca to tell her the great success that we did. She goes, "No." So, what do you mean? What do you mean, no?

2:18:42

She said, "For 10 years you're running this business, never have I told you once what to do.

2:18:45

This is how much the narrative is wrong. Once." She's very respectful. She can give advice.

2:18:52

She would not tell me what to do.

2:18:54

She respects this is my business. She supports it.

2:18:55

It's our business in equity holding, but she's very respectful.

2:18:59

I'm very respectful of her businesses. But they didn't pay us. We had a contract. We didn't get paid.

2:19:03

One time you do it to us, we learn the mistake.

2:19:06

Second time, why are we agreeing as a settlement for all of us?

2:19:10

Not just for us, for the employees, for to get paid in a year and a half.

2:19:14

Please, go back and said, "No deal. I'll see you in court."

2:19:16

Said, "No, you don't understand.

2:19:18

The IPO will blow up the whole thing." Said, "No, they'll fold. They're bluffing."

2:19:23

They're acting like a bully.

2:19:25

And my father was a bully.

2:19:27

And there's only one way to deal with a bully. Gun to their head. They're bluffing.

2:19:33

I'm like and I'm this is after I'm like this is an emotional roller coaster.

2:19:35

I go with Andrew and I to get Andrew's with me.

2:19:39

He's like, "Oh, I thought we had it."

2:19:41

I'm like, "Oh, I thought we had it." We're done.

2:19:42

Then Eric Seiler calls me.

2:19:45

Very famous phone call in our Fortnite lore.

2:19:49

Goes, "Adam, I just learned something." I said, "What is it, Mr. Seiler?"

2:19:51

Again, he owns his own firm. "I don't work for you. I work for Rebecca.

2:19:58

I said, "How did you learn that?"

2:20:00

He goes, "Well, she called me and completely disagrees with my legal strategy and told me they were going to court, not settling.

2:20:06

It's different from what you and I agreed.

2:20:07

Therefore, I work for her, not for you."

2:20:11

I said, "Well, I feel like I work for her because I know that all my blessings come from my wife." >> Yeah.

2:20:18

And if she feels strongly about something, I support her.

2:20:20

I There's no question she has better intuition than me. So, I support her. You support me.

2:20:25

Then yes, we're going to go with her way."

2:20:31

He goes, "Okay then, just wanted to clarify that."

2:20:32

I said, "What do you think's going to happen?" He goes, "I don't know.

2:20:35

This is uncharted territory. I would I would accept."

2:20:40

I said, "Well, what if they do?

2:20:40

What if she's right and they do?"

2:20:41

He goes, "You don't understand.

2:20:42

They gave all these promises."

2:20:43

I said, "Eric, we just litigated for a year about all these promises about a contract. What's a promise?

2:20:48

They did the money's in the bank, or it's not." So, he goes, "Okay. Let's get on the call.

2:20:58

It's going to be a very bad Zoom."

2:21:00

We get on the Zoom with the litigators, with the this, with the that.

2:21:02

They have their general counsel, some scary individuals.

2:21:06

I basically say, "Look, guys, it's not me anymore.

2:21:08

It's It's It's really It's me and Rebecca.

2:21:10

We make choices together.

2:21:14

We have a scheduled C-section Friday, 9:00 a. m.

2:21:19

Which is also the first the day of Purim holiday.

2:21:26

If the money is not in the bank at 8:30, all of it, we'll see you in court.

2:21:29

And even though court is in 8 days, the court date, which is the bris of my new son that's going to be born, I will miss the bris, or I will do it in the courtroom.

2:21:39

But, I will see you in court." Boom! Explosions. Ba ba. Screaming. Da da da.

2:21:46

Andrew behind the scenes is like this. Tragedy. Done. Done.

2:21:51

Before you're watching the movie, you and I be like, that's it. It's gone. We're saying in court. Next scene, court.

2:21:55

With the bris happening outside of the court with the rabbi, with the mohel.

2:22:01

4 hours later, Marcelo calls me. He's on the walker.

2:22:06

He's on the walker with the video.

2:22:06

He's saying, "Going Adam, please call Rebecca in."

2:22:10

So, I said, "Okay, Marcelo." Call Rebecca.

2:22:12

It's just Marcelo, no litigators, no one else.

2:22:16

And she said something beautiful.

2:22:16

Said, "Rebecca and Adam, I want to apologize to both of you.

2:22:22

You guys were 10 years ahead of your time.

2:22:24

It could be that if you had the keys to this car when you needed the keys to the car, and we would have been in a different place. It is what it is. We are where we are now.

2:22:35

The money will be in your account 30 minutes before your planned C-section.

2:22:39

I have my word, but separate from it, you will see it.

2:22:41

You do not need to go forward with the litigation. Let's be partners.

2:22:45

I'm going to bring in a CEO.

2:22:48

I'm going to choose to do things my way.

2:22:50

I know to call you if I need to. I respect you. You respect me. Let's move like that."

2:22:55

I say, "Thank you, Marcelo." I look at Rebecca. She goes, "All good?"

2:22:57

I said, "You're not worried?"

2:22:58

I said, "I'm not worried. This is We're all good." I say, "Thank you." At 4:30 a. m.

2:23:03

, don't ask me how I didn't know money could transfer. 4:30 a. m. , it hits the account. 9:00 a. m.

2:23:10

, we're in the birthing room.

2:23:12

Our sixth son, Moses, is born. Amazing story. That is the true story. >> Wow.

2:23:18

That's what actually happened. >> That's amazing.

2:23:19

The fact that they chose to make her the villain cuz it's easy. Yeah.

2:23:24

>> By the way, it shows you a lot about society. Yeah.

2:23:27

But not only is it not true, it's Whenever people hear something I've learned, when you hear two stories, there's a small group saying one story and a large group agreeing, listen to that small group and really take your time listening. Yeah. Beautiful.

2:23:45